Consumer stocks normally echo the gloom and doom represented by gauges of the prevailing consumer spending mood, but curiously they have maintained relative price performance over the past quarter. The three-month performance of S&P Consumer Cyclical index is in positive territory, outpacing the broader S&P 500 index  by 3 per cent and trailing only the leading sector performance of defensive health care and utilities stocks over the period. Investors are evidently more hopeful about economic prospects than the consumers who ultimately feed this sector’s cash flow. Investors need to recognize that the bearish trend signals flowing from the Canadian stock market do not necessarily direct a complete move away from equities. The strength in consumer stocks indicates the market sees enough value in the sector to warrant a lot more confidence than American kitchen table conversations would indicate. The trade Nike Inc., a current stock pick, has revived a long-term bullish trend in the midst of a very disappointing U.S. economic recovery. Its shares have garnered rising price targets from analysts, including those at UBS and Citigroup.