Bull Market Characteristics
New highs and bull flags.
That's the picture of the market right now.
The Nasdaq is printing all-time highs. The S&P is knocking on the door. Semiconductors, Industrials, Communications—you name it—they're all breaking out together.
The playbook has been simple.
New highs… followed by bull flags… followed by more new highs.
This is what bull markets look like.
And right now, we're seeing these bullish continuation patterns everywhere.
One group that we think is the next to go is Discretionary.
XLY is coiled up right at its former highs from 2021.
A breakout from here doesn't just resolve this flag—it confirms a multi-year base and kicks off the next leg higher for consumer stocks.
