Consumer Non-Durables 2023-09-15: Unchanged at WEAK strength rating (6th strongest of 9 levels), previous move was DOWN

Brian Degracia

16 Sep 2023 • 2 min read

Consumer Non-Durables for the trading week ended 2023-09-15, industry unchanged as 3/8 sub-industries strengthened and 1/8 sub-industries weakened.

SUMMARY

Performance

Bottom line: weakening for the past 5 weeks
Context: weakening recently vs. YTD
- 50% positive stocks YTD
- 41% positive stocks past 4 weeks

Background

Largest of 8 sub-industries (80 stocks total):
- 19 stocks Packaging & Containers
- 17 stocks Textile - Apparel Clothing
- 12 stocks Personal Products
10 Biggest Market Cap stocks: PG, NKE, CL, EL, ECL, LULU, KMB, CHD, CLX, BALL

DETAIL: 1 week review, YTD/4 weeks lookbacks

1 Week Review

Strengthened: 3/8 sub-industries
Weakened: 1/8 sub-industries

Strongest at Strong/4th strongest (of 9 levels) rating: Office Supplies
Weakest at Weaker/7th strongest rating: Textile - Apparel Clothing

10-Week Week-by-Week Industry/Sub-industry Strength Comparison
What: recent week-by-week strength changes for the industry and each underlying sub-industry
Why: objective measurement of strengthening and weakening enabling comparison within and across industries and sub-industries

Largest sub-industry Apparel has been struggling of late.

Strongest and Weakest Stocks
What: stocks currently rated Strongest/Weakest (highest/lowest of 9 strength ratings)
Why: most interesting stocks for available capital because
- the Strongest may be meme-stock mania candidates prone to breakouts, and
- the Weakest may be prone to large bottom-fishing/short-covering-driven pops... and may also be primed for bigger and faster falls. (Not guaranteed and not a recommendation - weak stocks in weakening sub-industries may be better shorts than high-flyers.)