SMO Exclusive: Strength Report Technology Sector 2024-11-07

Brian Degracia

07 Nov 2024 • 3 min read

Note in the graphic that it is possible for an industry to NOT change strength rating yet still "strengthen" or "weaken" for the week. The reason for this is that underneath the surface there can be movement that is directional but not considered material enough to change the strength rating. Taken in the aggregate over the sub-industries that make up industries and then sectors, this can provide helpful insight into the underlying currents at each level.

For the week ending Thursday, November 7, 2024, STRENGTHENING in Computer Hardware, Computer Software & Services, Electronics (Chips/Semiconductors), Internet, and Telecommunications.

The Tech sector strengthened by 0.4 points to a composite score of 4.0, with 2 of 5 industries strengthening enough to change rating.

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 Wednesday 2024-11-06. TLDR: no new shorts.