Consumer Discretionary showing it’s not all doom and gloom

The All Ordinaries index continued its advance during the week ending 26 July 2019 adding another +1.37% for the week. The index is now more than 10% above its 200 DMA. Approximately 63% and 64% of constituent stocks are above their 200 DMA and 100 DMA respectively. 

During the week 67% of stocks advanced. The week ended with two hundred and seventy-nine shares within 20% of their 52-week highs. 111 of those were within 5% of 52-week highs. As we’ve said in the past, more stocks making new highs is an excellent sign of the strength of the market as a whole.

Read moreConsumer Discretionary showing it’s not all doom and gloom