SMO Exclusive: Strength Report Industry Group 1 2024-10-29

Brian Degracia

29 Oct 2024 • 3 min read

Industry Group 1 WEAKENED by 0.5 points to a just-below average composite score of 5.1, with two of five industries weakening enough to change rating. Energy weakened one rating to tie Automotive at 6Weak. Residential Construction (Homebuilders) in Materials & Construction fell further to 4Strong from 1Strongest, the ranking it held four weeks ago. Gold in Metals Mining fell to 2VeryStrong from 1Strongest, weighed down by NEM/Newmont Gold which fell 19% this week. On the other end of the spectrum, TSLA/Tesla is now rated 1Strongest after a +19% week.

If you are interested in stacking strength as much as possible at the stock, sub-industry, industry, sector, and market levels, this report is for you. Below: the as of/for the week ending 10/29/24 Stock Market Organizer Industry Group 1 Strength Report, which covers the Automotive, Energy, Materials & Construction, Metals & Mining, and Transportation industries.

This industry grouping weakened moderately over the past week by -0.5 to a 5.1 weighted average strength rating. Much more detail in the attached including a segmenting by sub-industry of the Strongest and Weakest (in Stock Market Organizer parlance) stocks.

Metals & Mining is holding up best in this group while Materials & Construction weakened by one strength rating. Energy also declined by one strength rating and is tied at 6Weak with Automotive, weakest rated in this industry grouping.