SMO Exclusive: U.S. Stock Market Strength Report 2024-06-28 (no new Shorts)
About the U.S. stock market as of/for the week ending 6/28/24 - did you know? Positive market strength score = NO NEW SHORTS. Banking is the new strongest industry out of 29 at 3Stronger. Weakest at 6Weak: Automotive, Food/Beverage, Wholesale. STRENGTHENED: Banking, Energy, Transportation, Consumer Durables, Utilities. WEAKENED: none.
(First half 2024 ends – little to happen this week given the holiday. No weekly report will be published next weekend, for the week ending Friday 7/5/24.)
Additional insights are in the attached report – unique and not available elsewhere because I created this analysis from scratch. It uses conventional tools in unconventional ways to diversify your market, sector, industry, sub-industry, and individual stock perspectives.
Why do you care?
This report may resonate with you if you subscribe to the following:
- The stock market does not have to be so complicated.
- “What” matters, not “why.”
- Market conditions matter.
- The 100%+ rally begins with a 10% rally.
- The multi-month rally begins with one up week. (Also applies to declines.)
- The stronger your stocks, the greener your P&L.
Current stats
- Market Strength Score: +13%, no new Shorts
- 5 of 29 industry rankings strengthened, 0 weakened/Section II
- 58% of 198 sub-industries strengthened, 17% weakened/Section III
- 59% of 2,652 stocks positive, 41% negative, 30% stocks rated Strongest, 19% Weakest/Section IV
Leading Sector with a 3.9 weighted average ranking:
- Financial (Banking, Financial Services, Insurance, Real Estate)
Lagging Sector with a 5.2 weighted average ranking:
- Consumer (Consumer Durables, Consumer Non-Durables, Food & Beverage, Retail, Specialty Retail)
Leading Sub-industries (minimum 3 stocks) with a 1Strongest ranking:
- Financial Services - Regional Brokerages
- Computer Software & Services - Security Software & Services
- Consumer Durables - Business Equipment
- Health Services - Long-Term Care Facilities
Lagging Sub-industries (minimum 3 stocks) with a 9Weakest ranking:
- Food & Beverage - Confectioners
- Drugs - Drug Delivery
- Wholesale - Auto Parts
- Wholesale - Medical Equipment
More in the market, sector, industry, sub-industry, and stock analysis below.
I. MARKET Prologue Critical Concepts/Market Strength Score
IIA. INDUSTRIES 10-Week Week-by-Week Strengthening
IIB. INDUSTRIES % Positive/Negative Stocks
IIC. INDUSTRIES % Strongest/Weakest Stocks
IIIA. SUB-INDUSTRIES 1-Week Strength Summary
IIIB. SUB-INDUSTRIES 10-Week Strengthening/Weakening
IVA. STOCKS Outlier Sorts
IVB. STOCKS Multi-Year Highs/Lows by Sector/Grouping
IV. EXHIBITS System Foundations
