Drugs 2023-07-19: Unchanged at "Average" strength rating (5th strongest of 9 levels), flat for eight weeks

Both Drugs and its by far largest sub-industry Biotechnology have exhibited unchanged strength for the past eight weeks. This belies the feast or famine (seeming) nature of underlying Biotechnology stocks, which during the past week of trading ending 2023-07-19 had one stock rising 91% and another falling 52%.

This incredible variance is enough for me to punt on focusing on Biotech. Here, there is no advantage at the individual stock level from tracking industry and sub-industry strength.

This is the home of the major drug manufacturers (see "a closer look" below), which may be interesting to monitor.

Major Drug Manufacturers - a closer look

Home of PFE/Pfizer, MRK/Merck, and JNJ/Johnson & Johnson. Overall Weak rating (6th strongest of nine levels) and has generally been treading water for the past eight weeks.

Leaders and Laggards

Current strongest and weakest stocks are shown below. These are of most interest as the downtrodden are prone to large (if perhaps temporary) pops while the strongest have been leading the charge for their sub-industries.