You look at the highs taken out in the last week and you are astonished at the breadth of success in so many sectors, including sectors notoriously antagonistic to each other.
You see utilities and insurers running at the same time the biggest industrials are galloping higher. You see some health-care stocks, but they are really only the devices and health insurers that could stand to do better under the repeal of the device tax. These would normally indicate that the consumer may have slowed down or a recession might even beckon ... until you see all the stocks on the new-high list that are associated with making your home into a more valuable property.
Then there's travel-and-leisure coming on strong, which could be a sign that perhaps some people are either having all of their material needs satisfied or they are seeking an experiential moment to put on their Facebook page or Instagram or Snap. Line those up with the beauty stocks and you can see that going out and doing things remains hot as a smoking machine-gun barrel. We can include the casinos now, too.
But so are the stay-at-home stocks, such as Domino's Pizza (DPZ) - Get Domino's Pizza, Inc. Report and Constellation Brands (STZ) - Get Constellation Brands, Inc. Class A Report -- buying beer for the home -- and the home-gaming stocks. Here's a look at STZ's weekly chart, courtesy of technical analyst Bruce Kamich of Real Money, our premium site for active traders:
Kamich writes that the above chart "is mostly bullish. Prices are above the flat to rising 40-week moving average line. The weekly On-Balance Volume line (OBV) is improving but has not made a new high along with the price action. The Moving Average Convergence Divergence oscillator (MACD) is above the zero line in a strong bullish mode." (Click here to read Kamich's full analysis.)
Elsewhere, the data-center stocks are still strong, as are the tower stocks and the cloud-based enterprises. Same with the cybersecurity and semiconductor equipment stocks. It's a motley group, but more importantly, it's an exceedingly broad group.
Let's go over some of the names to flesh out these bull markets and make it clear how powerful these themes are.
The biggest themes are the insurers, industrials and health devices. I'll look at them in a column later today.
(Editor's pick. This column originally appeared on TheStreet at 3:14 p.m. ET on May 8, while a longer version originally ran at 6:27 a.m. ET on Real Money, our premium site for active traders. Click here to get great columns like this from Jim Cramer and other writers even earlier in the trading day.)
, which Cramer co-manages as a charitable trust, is long AAPL, ADBE, GE, FB, GOOGL, WDC.