RE: US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts
(2022-09-06, 08:54 PM)isatrader Wrote:(2022-09-06, 08:37 PM)Mashed Wrote: Great! Thanks!![]()
By the way, I know SW doesn't see the Mansfield RS as relevant now, but don't you find it interesting to compare the stock with the sector or industry too (in my screenshot you can see the indicator with SP500 and XLE)
Yeah, he said he's less focused on it these days. But my own research and day to day use over the last 12 years on the method has shown it to be fairly essential for me. ....
I'm wondering whether, if are looking at breakouts in the strongest sectors / groups etc, the Mansfield RS tends to be positive anyway? That does not invalidate it, but does affect its prominence in screening for stocks? Another factor is perhaps how we screen for stocks that are breaking out. I get the impression that 'wood to the trees' was the screening process when the book was written, where you saw if the overall market was strong, then picked the strongest sector then had to look at the charts to pick them, so you had to pick a sector and then eyeball the charts so its use was conscious. I've written my own database/screener and I suspect everyone uses some form of software screening - it is now practical to screen thousands of stocks, so the RS is just another factor in the scoring system used in the screening process.