US Stocks Industry Groups Relative Strength Rankings
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US Industry Groups by Highest RS Score
Renewable Energy Equipment $DWCREE tops the RS rankings once more with 12 stocks in the group with a greater than +20% move this week.
Oil Equipment & Services $DJUSOI and Steel $DJUSST both moved up the rankings in the top 10 with Stage 2 continuation attempts. While Transportation Services $DJUSTS moved into the top 10 with a strong +10 RS gain with a strong Stage 2 breakout attempt in the group.
But the most significant RS change this week was in the Aluminium $DJUSAL group, rising a further +57 RS points this week, to move up to 9th position overall, and it has now moved up +87 RS points in the last 4 weeks, and was the bottom group back in September / early October. So it is a big turnaround for the group, rising +95 RS positions since then and made a Stage 2 breakout attempt this week.
There were lots of other areas of strength this week, with numerous Stage 2 breakout attempts. So a potential change of character for the market, as we continue to see more and more groups attempt to move into early Stage 2.
US Industry Groups by Weakest RS Score
Defense $DJUSDN was this weeks strongest RS decliner as well as percentage decliner, dropping 34 RS points and -5.44%. Moving it down to 16th from bottom of the RS rankings. But there were only minor changes in the bottom groups, with Automobiles $DJUSAU continuing to have the weakest overall RS score.
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.