Momentum Wrap – 91 All-Time Highs

There is an old market saying that surprises tend to follow the direction of the current trend. Thursday’s news flow and price action were examples of that concept.

New Highs

91 all-time highs among stocks that gained 1% or more: GV ASML CYMY FUL FRGI CLW CRAY PRIM FNGN HCA PRLB LOW

261 stocks reached 52-week highs while appreciating 1%+. Some of the notable movers include:

• After brief consolidation, housing-related stocks had another range expansion day. Homebuilders ($PHM $RYL $SPF), regional banks ($FITB $OZRK), heavy construction  ($PRIM, $GVA) home improvement and furnishing stores ($LOW $PIR), mortgage investments ($HLSS, $KFN)… dominated the 52-week high list

• Semiconductor stocks broke out all over the place and it looks like they are the beneficiaries of the current market rotation: $ASML $CYMI $NXPI $TSM

• Hospital stocks followed through: $HCA $THC $UHC

• specialty chemicals continue to make new highs: $FUL $VAL

StockTwits 50 Notables

• 11 of the 50 stocks gained 2% or more. The industry origin of the gainers was quite diverse: online retail, homebuilders, computer systems, staffing agencies, semiconductors, farm machinery, Chinese Internet svs, home furnishing stores

• 15 reached new multi-year highs: $CRAY $NXPI $PHM $PIR $FNGN …

• $NTCT and $CYBX were notable underperformers, losing 6% and 3% respectively