We plucked this chart out from Naufall Sanaullah market overview presentation we just posted, basically, for the first time in a while, stocks like Wal-Mart, Autozone, and O’Reilly’s are leading the way, and the last time they did was in the runup to the last recession.
It makes sense: Each are companies that thrive in a downmarket, as consumers buy low-end, or buy more parts to fix their own cars.
If nothing else, it’s something to watch.
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