Just an observation:
Most (not all) of the defensive stocks on my watchlist are being sold off, and turnaround stocks are being bought:
Out
PG, KO, UL, PEP, BF.B,YUMC, MICC, Nestle, KVUE, HSY\*\*
In
SBUX, DRI, NKE, DIS, ODFL, DEO\*\*, SOLV, ZTS, SSD
\*\* outlier
I think large institutions/funds are rotating their 2026 list.
Just an observation not a recommendation.
Disclosure: I own stocks in both camp.