Utilities continue to lead, taking the top sector spot as well as dominating the new highs list.
A quick scan down the 52-week high column, in the stock tables, reveals a number of utility names with an “NH,” signifying stocks that are hitting new 52-week highs.
Earnings growth tends to be low for utilities, but as the market faltered in January, their relative strength was hard to ignore. Some individual names are still in buying range, but others are at a point where profit taking should be top of mind.