Today, all of the major stock indexes are declining sharply lower falling by more than 1.0 percent on the session. This decline comes after a huge rally that started on December 26, 2018 and lead to a near term overbought condition. Whenever you see a big broad based decline such as today it is important to look for stocks that are holding up in this sell off. A few stocks that are trading higher today include Starbucks Corp (NASDAQ:SBUX), McDonalds Corp (NYSE:MCD) and Chipotle Mexican Grill Inc (NYSE:CMG). The one thing these stocks have in common is that they are all restaurant stocks. Now if these market indexes decline further over the next few days or weeks it will be important to see how these key stocks hold up over that time period. In fact, the restaurant sector should be watched closely. These stocks could emerge as the leaders in the next rally. On days like this it is always important to watch for stocks that are showing relative strength.
© 2023 Created by Steven Vincent. Powered by