Retail 2023-09-15: Unchanged at AVERAGE strength rating (5th strongest of 9 levels), previous move was DOWN

Brian Degracia

16 Sep 2023 • 2 min read

Retail for the trading week ended 2023-09-15, industry unchanged as 2/9 sub-industries strengthened and 3/9 sub-industries weakened.

SUMMARY

Performance

Bottom line: effectively flat for the past 10 weeks
Context: weakening recently vs. YTD
- 53% positive stocks YTD
- 36% positive stocks past 4 weeks

Background

Largest of 9 sub-industries (55 stocks total):
- 10 stocks Grocery Stores
- 9 stocks Discount
- 9 stocks Electronics Stores
10 Biggest Market Cap stocks: AMZN, WMT, HD, COST, LOW, TJX, CVS, MELI, TGT, ORLY

DETAIL: 1 week review, YTD/4 weeks lookbacks

1 Week Review

Strengthened: 2/9 sub-industries
Weakened: 3/9 sub-industries

Strongest at Strong/4th strongest (of 9 levels) rating:
- Catalog & Mail Order Houses
- Home Furnishing Stores
Weakest at Very Weak/8th strongest rating: Drug Stores

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

Broad range of occurrences due to small number of stocks in some sub-industries (such as Drug Stores and Home Furnishings).

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.)