SMO Exclusive: U.S. Stock Market Strength Report 2024-06-07 (no new Longs)

Brian Degracia

09 Jun 2024 • 7 min read

Shield your eyes if you care only about fundamentals, otherwise the attached U.S. stock market strength report as of/for the week ending June 7, 2024 may be of interest.

What is this?

A top-down, inside-out (sector, industry, sub-industry), and bottom-up revealing of strength/strengthening and weakness/weakening throughout the stock market.

It offers unique, logical, and actionable insights by using conventional tools in unconventional ways.

Why do you care?

This report may resonate with you if you subscribe to the following:

🔹 The market does not have to be so complicated.
🔹 "What" matters, not "why."
🔹 Market conditions matter.
🔹 The journey to 100% returns begins with 10% returns.
🔹 The journey to multi-month rallies begins with a one-week rally.
🔹 The stronger your stocks, the greener your P&L.

Current stats

- Market Strength Score: -75%, no new Longs
- 0 of 29 industry rankings strengthened, 8 weakened (0/4 last week)/ Section II
- 28% of 198 sub-industries strengthened, 58% weakened (31%/38% last week)/ Section III
- 25% of 2,654 stocks positive, 74% negative, 23% stocks rated Strongest, 22% Weakest (53%/47%, 32%/19% last week)/ Section IV

Leading Sectors/industry groupings with a 5.0 weighted average ranking:
- Technology (Computer Hardware, Computer Software & Services, Electronics, Internet, Telecommunications)
- Industry Group 3 (Aerospace/Defense, Chemicals, Drugs, Manufacturing, Wholesale)

Lagging Sectors/industry groupings with a 5.2 weighted average ranking:
- Consumer Sector (Consumer Durables, Consumer Non-Durables, Food & Beverage, Retail, Specialty Retail)
- Industry Group 2 (Diversified Services, Health Services, Leisure, Media, Utilities)

Leading Sub-industry (minimum 3 stocks) with 2Very Strong ranking:
- Computer Hardware - Data Storage Devices

Lagging Sub-industries (minimum 3 stocks) with 8Very Weak ranking:
- Drugs - Drug Delivery

More in the market, sector, industry, sub-industry, and stock analysis below.