SMO Exclusive: U.S. Stock Market Strength Report 2024-04-19 (no new Longs)

Brian Degracia

21 Apr 2024 • 7 min read

U.S. stock market 4/19/24 - to convert confusing chaos into crystal clear, calming context, see the attached unique strength-focused review. It looks at the market from the top-down, inside-out, and bottom up. It is original with insights unavailable elsewhere that will complement all other market views. Including yours. BOTTOM LINE – LESS WEAKENING STILL MEANS WEAKENING. (Especially if you own NVDA and/or SMCI.) By the numbers: 🔹 29 industries: 3 strengthened rankings (Banking, Food & Beverage, and Utilities) as 10 weakened (vs. 0/10 last week), 🔹 198 sub-industries: 20% strengthened and 58% weakened (vs. 5%/74% last week), 🔹 2,667 stocks: 67% negative (vs. 87% last week).

For more in the attached:
Market: Section I
Industries: Section II
Sub-industries: Section III
Stocks: Section IV

Retail participants – hoping you have plans to address this market. It’s dicey out there without a guide.

Advisors – hoping you can use a competitive edge that comes from offering your clients unique, concise market insights that reveal your comprehensive grasp on current conditions.

MORE TOP-DOWN, INSIDE-OUT, AND BOTTOM-UP DETAIL

MARKET
🔹 Has a negative Market Strength Score so NO NEW LONGS

SECTORS/INDUSTRY GROUPINGS (6)
🔹 Overall weighted average strength ranking is 5.2, -0.2 this week
🔹 Best: Industry Group 1, 4.5 = -0.3 this week (Automotive, Energy, Materials/Construction, Metals/Mining, Transportation)
🔹 Worst: Tech Sector, 5.9 = -0.7 this week (Computer Hardware, Computer Software & Services, Electronics, Internet, and Telecommunications)

INDUSTRIES
🔹 Strongest: 7-way tie at 4Strong