The market could soon see new all-time highs, and one of the market's oldest group of stocks may lead the charge, according to a widely followed technician.
On Friday, the Dow Jones Industrial Average posted its best week in a month, a trend that has some analysts encouraged.
By Wald's chart work, industrial stocks could be the group that takes the whole market higher. Wald believes that following two years of flat performance, the sector is setting up for a bullish pattern after forming a double bottom — a price reversal pattern. This week, analysts at Strategas Research said this class of stocks was the subject of increasingly bullish sentiment. General Electric and 3M are among big industrial gainers recently.