SMO Exclusive: Strength Report Technology Sector 2024-10-24

Brian Degracia

24 Oct 2024 • 3 min read

Tech Sector mildly weakened by 0.3 points to a composite score of 4.3, with 1 of 5 industries weakening enough to change rating.

For the week ending Thursday, October 24, 2024, mild Weakening in Computer Hardware, Computer Software & Services, Electronics (Chips/Semiconductors), Internet, and Telecommunications.

One of five industries strengthened enough to change rating and the composite strength score weakened by 0.3 to 4.3 (on a scale of 1Strongest through 9Weakest, this rating is just below 4Strong).

Details below, genuinely unique and unavailable elsewhere because I created this method from scratch to answer on an on-going basis the following question: “Where is there strengthening and weakening in the market at the stock, sub-industry, and industry levels?”

This matters because it gives you the chance to quickly and conveniently

stack strength by quickly finding the strongest stocks in strong/strengthening sectors or
stack weakness with the weakest stocks in weak/weakening sectors.

See this post for the current market context - it has changed as of the trading day 2024-10-22. TLDR: no new longs.