Sellers once again lost their advantage as the S&P 500 (SPY) came roaring right back from its ugliest close since the U.S. Presidential election. The bullishness on the day was on full display with the number of new all-time highs well out-pacing new all-time lows by 181 to 79. While the S&P 500 still has to prove itself with a fresh close above its 50-day moving average (DMA), I decided to examine some scans at SwingTradeBot to identify some of the strongest stocks in the market – stocks I might want to buy on the next major market pullback (assuming another one actually occurs one day). What I found greatly surprised me.
I used SwingTradeBot to download its list of stocks making new 52-week highs on March 1, 2017 – the last day the S&P 500 closed at an all-time high – and stocks making new 52-week highs today (April 17, 2017). I used the Bot’s standard filters including stocks with only the highest grade of “A.” Between these dates, the S&P 500 lost 1.9% and established a downtrend from its all-time high. I figured that any stock which managed to hit new 52-week highs across these points must be a pretty strong and resilient stock. I expected the list to be full of technology stocks with a good helping of speculative stocks. Instead, of the 16 stocks that made the grade, 4 are utilities, 4 are REITs, and 2 are home builders. The other half consists of an assortment of consumer-related business and just ONE technology-related company. That technology company, Interxion Holding N.V. (INXN), is a Netherlands-based company that runs data centers.
Here is the complete and alphabetized list along with the associated industry…
AGNC: AGNC Investment Corp. – Residential REITs
ARR: ARMOUR Residential REIT, Inc. – Residential REITs
BKH: Black Hills Corporation – Electric Utilities
CNP: CenterPoint Energy, Inc. – Gas Utilities
DTE: DTE Energy Company – Electric Utilities
ENR: Energizer Holdings, Inc. – Personal Products
ILG: ILG, Inc. – Business Services (Travel/Lodging)
INFO: IHS Markit Ltd. – Business Services
INXN: Interxion Holding N.V. – Internet Software & Services
KBH: KB Home – Residential Construction
MCD: McDonald’s Corporation – Restaurants
NRZ: New Residential Investment Corp. – Residential REITs
NSA: National Storage Affiliates Trust – (Storage) REITs
PHM: PulteGroup, Inc. – Residential Construction
PM: Philip Morris International Inc. – Cigarettes
PNW: Pinnacle West Capital Corporation – Electric Utilities
