US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
Automobiles continues to lead the Industry Groups Relative Strength (RS) Rankings table, mostly due to the large weighting of TSLA, which is running to new 52 week highs in Stage 2.
But major RS mover at the moment comes from the relatively new sub-group of Quantum Computing that doesn't have an official group as yet. But is made up of four Quantum Computing stocks IONQ, RGTI, QUBT, QBTS and a number of related stocks that are involved in the theme other ways – MRVL, COHR, TSEM, IBM, MSFT, RDNT, GOOGL, NVDA, HON, RTX, BABA, INTC, BIDU
There is also the Defiance Quantum ETF – QTUM which also include a number of international stocks related to the theme.
In the short-term the individual stocks have gotten extremely extended, after powerful Stage 2 moves on increasingly heavy volume, which began with the Stage 2A breakout in IONQ that I discussed in late September as it broke out in the watchlist posts and videos. Here's the watchlist post for example – US Stocks Watchlist – 29 September 2024 of the breakout day into Stage 2A.
Since then the other three pure play stocks RGTI, QUBT, QBTS have also moved strongly into Stage2, and have been surging higher on increasing volume. So they are a long way past the methods entry points currently, but the new theme has established itself in the market. And so it will be key to see if they now get institutional support on the inevitable pullback, and pullback constructively, or collapse back on equally heavy volume. So definitely a developing theme to monitor going forward.
US Industry Groups by Weakest RS Score
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.