With rates rising across late 2004, half the market had written off consumer staples as dull income plays. This is the week the quiet buyers took control.
Daily #39 stock chart answers — August 12, 2026
Five anonymised historical charts were dealt to every player. The Monkey Index returned -0.33% across the same tape.
111 desks completed all five charts.
Washington drug pricing rhetoric had haunted big pharma all summer, but defensive cash flows took charge as the 2019 year-end rally took off. The buyers were not done yet.
The initial stay-at-home surge had run out of steam, leaving big tech treading water while the street rotated into reopening stocks. Sellers were not done yet.
Crude oil had backed off its summer record, so half the street thought the commodity supercycle was finished. Energy stocks rallied straight through the doubt, though buyers finally took a breather.
Lehman Brothers had just collapsed and corporate spending was expected to freeze, so Wall Street dumped enterprise software along with the banks. This was the week buyers stepped into the panic.