US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
US Industry Groups by Weakest RS Score
There were numerous RS movers to the downside this week, with a few areas particularly of note, including the Gold miners, Biotechnology and Semiconductors. With numerous Stage 4 breakdown attempts.
The Gold group for example, had 11 of the 26 stocks in the group (42%) with Stage 4 breakdown attempts this week, and has has weakened dramatically with the continuing dollar strength since the election. The percentage of technically healthy stocks has dropped from a high of 92% in October to just 4% now.
The Semiconductors & Semiconductor Equipment Industry group has made a Stage 4 breakdown attempt this week with the % of technically healthy stocks dropping to just 15.32% currently and 22.41% above their 30 week MAs, as the majority of the 116 stocks in the group are in Stage 3 and Stage 4.
There are still some areas of strength however, with mega cap NVDA in Stage 2B, with earnings coming up on 2024-11-20 (AMC)
Biotechnology is another area that saw some dramatic changes of behaviour, with various stocks collapsing into Stage 4, which can be seen in the group ETFs - XBI and IBB. Both of which broke down into Stage 4, with significant reversal bars that engulfed many weeks of price action.
US Industry Groups sorted by Relative Strength
The purpose of the Relative Strength (RS) tables is to track the short, medium and long-term RS changes of the individual groups to find the new leadership earlier than the crowd.
RS Score of 100 is the strongest, and 0 is the weakest.
In the Stage Analysis method we are looking to focus on the strongest groups, as what is strong, tends to stay strong for a long time. But we also want to find the improving / up and coming groups that are starting to rise up strongly through the RS table from the lower zone, in order to find the future leading stocks before they break out from a Stage 1 base and move into a Stage 2 advancing phase.
Each week I go through the most interesting groups on the move in more detail during the Stage Analysis Members weekend video – as Industry Group analysis is a key part of Stan Weinstein's Stage Analysis method.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.