Average Distribution: 50.73% (+1.56% 1wk)
- 45 Groups (22.5%) are in the Stage 4 zone
- 96 Groups (48%) are in the Stage 1 or Stage 3 zone
- 59 Groups (29.5%) are in the Stage 2 zone
The IBD Industry Groups Bell Curve had a slight gain over the week of +1.56%.
The amount of groups in Stage 4 decreased by -10 (-5%), and the amount of groups in Stage 2 increased by +9 (+4.5%), while the amount groups in Stage 1 or Stage 3 decreased by -1 (-0.5%).
The overall distribution of the bell curve is now slightly above the middle of the range, and so remains firmly in Stage 1 territory. So its position strengthened once more, with less groups in Stage 4 declines, and more groups moving into Stage 2 advances. But considered as a whole, it continues to remain very neutral at just over 50%, with the majority of groups distributed in the middle of the bell curve, and so to get to an overall Stage 2 position (bull market), it still needs to improve by over 9%, and then start closing regularly above the 60% level.
But as discussed in previous posts, a move to Stage 2 isn't guaranteed, as Stage 1 can also return to Stage 4. So we still need to continue to stay alert for any signs of weakness. i.e. lots of failed Stage 2 breakout attempts would be a major red flag to look out for. So stay nimble, as although it's been improving, the market remains in a neutral Stage 1 position based on this industry group bullish percent data.
To compare against last weeks chart go to: IBD Industry Groups Bell Curve – Bullish Percent (13 January 2023).
Below is the data tables of the 200 IBD groups bullish percent in order of relative strength and the position changes over the last 1, 2 and 4 weeks (Members Only).
Become a Stage Analysis Member:
To see more like this and other premium content, such as the regular US Stocks watchlist, detailed videos and intraday posts, become a Stage Analysis member.
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.