Is it time for investors to exercise a bit of discretion?
The consumer discretionary sector has outperformed the market for the prior six years straight. And according to Carter Worth, the chief market technician at Oppenheimer, seven for seven is simply not in the cards.
"Conceptually, there is the problem that the sector has just completed a record sixth year of outperformance compared to the market," Worth said. "No sector's done that going back to the 1980s, and that in and of itself is a problem."
The technician points out that over the past five years, the consumer discretionary sector has doubled the performance of the S&P 500.
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"So one of the parts that comprises the whole is outperforming the whole by 2 to 1," Worth said on Friday's "Options Action." "You're talking about very, very serious outperformance."