US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
Above is the top 12 industry groups thumbnail charts by Relative Strength (RS) score, which all closed higher on the week, but only made minor progress higher. However, with the S&P 500 down over -3% on the week, they did all outperform the broad market.
Energy groups continue to dominate the top 10, with 5 groups in the first 6. But an older leader moved back into the top 10 this week with Aluminium moving up 28 positions.
US Industry Groups by Weakest RS Score
Automobiles was a notable mover lower in the weakest RS groups, dropping a further 12 RS points to finish the week second from bottom of the table, and has now come full circle, as Automobiles was the leading group for the bulk of the 2020 Stage 2 advance in the market.
The drop in the group was largely caused by the Stage 4 breakdown attempt in Tesla (TSLA) on Friday (see below). But I'd only consider it a tentative Stage 4 breakdown attempt still, as the weekly close wasn't a convincing breakdown, and so it's at a pivotal point, and could attempt to spring if demand steps in and the final hour rally in the market follows through into Monday.
104 Dow Jones 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 breakout 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.