US Industry Groups by Highest RS Score
Steel ($DJUSST) group held onto the top spot for another week, but continued to pull back, and underperformed the S&P 500.
Commodity Chemicals ($DJUSCC) was one of the few areas of strength this week gaining +3.86% following a strong local spring on Friday as LIN from the group made a continuation attempt on news with a new all time high (adjusted data) and the group moved up +41 RS points to 11th overall.
Heavy Construction ($DJUSHV) rose a further +9 RS points to 3rd position overall in the RS rankings with a strong Stage 2 continuation breakout in MYRG (small-cap) and EME (mid-cap), plus a further continuation breakout in the long-term Stage 2 advance of PWR.
US Industry Groups by Weakest RS Score
Broadline Retailers ($DJUSRB) remains at the bottom of the RS rankings, which includes AMZN and TGT, but also includes a number of Chinese large caps such as BABA, which continues to pullback heavily and fell back below its 200 day MA with Fridays close.
Automobiles was one of the weeks largest percent decliners at -6.27%, with big declines in LCID, FSR, RIVN and a more modest pullback in TSLA, which is the major stock of the group.
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.