US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
Renewable Energy Equipment held onto the top spot for another week with the strongest percentage move of all the industry groups with a +14.58% gain and Stage 2 continuation breakout attempt, while the broad market is still in late Stage 4 (potentially transitioning to Stage 1). So the Renewable Energy group is continuing to strongly outperform.
The weeks strongest RS gainer was the Nonferrous Metals ($DJUSNF) group, rising +55 RS points to close the week in 14th position overall, and the stocks in the group seemed to be heavily influenced by the heavy reversal significant bar in the Dollar Index today, with strong spring type action in many stocks in the group, such as silver, copper and lithium miners. Many of which are potentially transitioning towards Stage 1 and breaking out of deeper base structures near their lows in late Stage 4B.
US Industry Groups by Weakest RS Score
The Gold Mining ($DJUSPM) and Mining ($DJUSMG) groups were the most notable at the bottom end of the RS rankings, the Dollar move causing strong spring type action in both groups as you can see in the above thumbnail charts. So the metals and miners will definitely be an area of focus in this weekends chart reviews.
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.