šRestaurant Stocks Breaking Out (+2 Stock Picks)
The bull rally is back on
Welcome back to MktContext where we study the US economy and time the stock market.
Current stock market timer: BULLISH
The restaurant trades we recommended just a few weeks ago are breaking out, confirming our consumer spending thesis. Bloominā Brands (BLMN) broke out of consolidation on strong earnings. It is up nearly +40% from our entry point.
Our second restaurant-related pick, Toast (TOST), also reported good earnings and rose 20% from our $30 breakout level:
The leader of the pack, Cheesecake Factory (CAKE), also reported good earnings and pushed to new highs:
From the earnings reports, it is evident that restaurant foot traffic and consumer spending is returning in a major way. We were able to catch the inflection before it happened.
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Market rebound and lock-out rally
Macroeconomy still positive
2 tech stock picks
Our portfolio ā trades initiated this week
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