Is the sell-off in tech over?
It may be too early to say.
But it’s certainly been a rough month.
The “Magnificent Seven,” along with AI favorites Oracle (ORCL) and Broadcom (AVGO), have collectively lost about $2.7 trillion in market value this month.
Wall Street appears to be finally taking a more critical look at the massive sums being poured into AI infrastructure – and asking an important question: Will the companies making the investments today ultimately be the ones reaping the rewards?
The tech sell-off could be a healthy correction. A pause that refreshes.
Or it could mark the beginning of a much bigger reckoning.
We likely won’t know for several more weeks.
Still, as the old Wall Street saying goes, there’s always a bull market somewhere.
And that’s where today’s analysis comes in.
It’s Thursday, so I’ll be covering stocks that have recently crossed the “Bullish” threshold of rating a 60 or better out of 100.
Let’s start with the newly “Bullish” stocks of the S&P 500 Index.
S&P 500 New Bulls
I ran my usual screen for S&P 500 companies that popped up as “Bullish” this week, and this is what I came up with:
It really doesn’t get any more “non tech” than Packaging Corporation of America (PKG). One of the largest manufacturers of containerboard and cardboard boxes in the United States, the company makes shipping containers, retail displays and heavy-duty industrial packaging for myriad industries, including food, beverage, automotive and e-commerce.
Ironically, one of the beneficiaries of the e-commerce revolution was the stodgy old world of paper and packaging. It was a classic picks-and-shovels play. All of those Amazon Prime orders that miraculously end up on your doorstep have to be boxed, after all.
One major selling point of PKG is its low volatility. The company rates a “Bullish” 74 on volatility. (Remember, the higher the volatility factor rating, the less the stock tends to bounce.)
So, if we have any volatility coming down the pipeline, PKG should manage to keep its head above water.
Interestingly enough, given the recent bloodbath in tech stocks, “old tech” leader Cisco Systems (CSCO) just joined the ranks of the “Bullish.”
Cisco has the distinction of being rated as “Strong Bullish” on both its volatility and momentum factors. That means the stock is trending higher, bucking the overall trend in tech, and yet it’s also a defensive play.
If the tech rout continues to deepen, Cisco should hold up relatively well compared to the rest of the sector.
New Bulls Outside the S&P 500
Let’s cast the net a little wider and look at the newly “Bullish” stocks outside of the S&P 500. I ran a screen for the top 20 stocks with the largest score increases over the past month, and this is what popped up:
Who says Ozempic killed junk food?
Domino’s Pizza Group PLC (DPUKY) made the list this week after seeing its Green Zone rating jump more than 21 points.
The company is the exclusive master franchisee for Domino’s in the United Kingdom and Ireland, operating nearly 1,400 stores. DPUKY is a small-cap value stock, rating particularly well on its size and value factors.
And again, it’s about as low-tech as you can get. The company sells pizzas to Englishmen and Irishmen.
Another noteworthy European company making the list is EasyJet PLC (ESYJT), the budget airline that connects the UK to much of Europe and beyond.
Keep in mind, 2026 has been a rough year for airlines. The spike in fuel costs due to the war in Iran has weighed on the entire sector.
And , high inflation has cut into travelers’ budgets… particularly for cost-sensitive travelers who tend to fly EasyJet.
This has kept a lid on the share price… and helps explain why the shares are almost ridiculously cheap. They rate a “Strong Bullish” 99 out of 100.
At the other end of the spectrum, high-end Singapore Airlines (SINGY) also popped up as newly “Bullish.”
Singapore Airlines is the polar opposite of EasyJet. It’s a premium airline that regularly ranks among the finest in the world. Yet like EasyJet, Singapore Airlines also rates exceptionally well on value, with a factor rating of 95.
Will the second half of 2026 see a rebound in airline stocks?
That remains to be seen. But I can tell you that the sector is certainly priced to outperform.
To good profits,
Adam O’Dell
Editor, What My System Says Today
