Two traders share their best trades in the sectors and stock groups hitting all-time highs.
The record-high market still has pockets of opportunity, according to two traders. Stocks started 2021 strong, ending the first trading week of the year with the S&P 500 industrials, consumer discretionary, information technology, materials and health-care sectors reaching all-time highs. «As we look at this entire market, it’s really been a story of rising water lifting all boats,» Craig Johnson, senior technical research analyst at Piper Sandler, told CNBC’s «Trading Nation» on Friday. «We’re overweight tech, we’re overweight consumer cyclicals and we’re also overweight industrials,» he said. Referring to a chart of the Industrial Select Sector SPDR Fund (XLI), Johnson said the ETF was just starting to break out to new highs, which technical analysts tend to see as a sign of strength.
