The Old Leaders Are Waking Back Up
The strongest sectors and industry groups since the July 29 low are many of the same areas that led the market over the past year:
Technology
Semiconductors
Electrical Equipment and Parts
Computer Hardware
Electronic Equipment and Parts
Communication Equipment
These areas took a beating after major runs in many of their leading stocks.
We will see whether the market produces a follow-through day today or in the coming days, and whether these groups can reclaim their prior leadership.
Many of the former leaders, including SNDK, MU, BE, CIEN, and PENG, were hit hard and still have significant ground to recover.
But the areas that led before the correction are once again showing some of the strongest relative performance off the lows.
