US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
No change in the top two RS rankings this week, but Gold Mining ($DJUSPM) has moved up +27 RS points to 3rd place overall in the US Stocks Industry Groups RS Rankings, with a fourth strong week. During that time it has risen +68 RS points, since physical gold futures rebounded from the Stage 2 secondary entry zone – see the beginning segment of the Stage Analysis Members Video – 12 March 2023 and the Group Focus: Gold, Silver and the Precious Metals Miners – 13 March 2023 post for more info on the group and the Stage Analysis method Stage 2 secondary entry zone.
The Internet ($DJUSNS) group was also of note as it rebounded +14 RS points to move into 6th place overall, and has now been in the top 10 of the RS rankings for three of the last four weeks. The move seems largely due to moves in the mega caps in the group of GOOGL, GOOG, META – with Google (Alphabet) testing its Stage 2 level on the last day of the trading week, and so it is in position for a potential Stage 2 breakout attempt in the coming week, if it can follow through. Which would be big for the market, as it makes up a large weighting in a number of major US indexes and ETFs.
US Industry Groups by Weakest RS Score
At the bottom end of the Relative Strength rankings, Banks ($DJUSBK) moved off of the bottom spot to be replaced by Durable Household Products ($DJUSHD), and also of note was the RS drop in Automobiles ($DJUSAU), which was led by a -10.80% decline in TSLA, which moved it back below its still declining 30 week MA.
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 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.