Materials/Construction incl. Homebuilders 2023-09-12: Unchanged at "STRONG" strength rating (4th strongest of 9 levels), previous move was DOWN

Brian Degracia

12 Sep 2023 • 2 min read

Materials/Construction incl. Homebuilders for the trading week ending 2023-09-12. 5 weakening sub-industries, though Homebuilders were unchanged after recent weakness.

Bottom line: Materials & Construction has generally been flip-flopping over the previous 3 weeks before settling down this week.
Key stocks: WM, CARR, RSG, DHI, WCN, LEN, FAST, PWR, VMC, MLM (top 10 by market cap).
Context: The industry has been 87% positive YTD, falling dramatically to only 25% positive over the past month.

One week, YTD, and one month reviews below, along with links to past reviews.

1 Week Detail

Overview

No sub-industries strengthened and 5 sub-industries weakened (8 total).

Strongest at Stronger rating (3rd strongest of 9 levels):
1. General Contractors

Weakest at Weak rating (6th strongest):
1. Tie, Cement, Lumber, and Manufactured Housing

10-Week Industry/Sub-industry Week-by-Week Comparison

General Contractors weakened for a second consecutive week after being Strongest for 2 months. The Residential Construction/Homebuilders sub-industry has weakened 3 levels in the past 4 weeks.

Individual Stock 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.

Current ratio of Strongest to Weakest stocks is 23:9, similar to the 9/5/23 27:7 ratio.

Historical Context - YTD and 4 week Lookbacks

Standout winners and losers for different lookback periods are shown below including their sub-industries.