SMO Exclusive: U.S. Stock Market Strength Report 2024-08-02 (no new Longs)

Brian Degracia

04 Aug 2024 • 7 min read

Exactly how much damage did the market incur this week? An objective answer is attached in your Stock Market Organizer U.S. market strength report as of/for the week ending 8/2/24. This report:
🔹 tells you what is, not what will be (-85% Market Strength Score = No New Longs)
🔹 graphically depicts strengthening and weakening at the market, sector/industry group, industry, sub-industry, and stock levels
🔹 reveals whether the rubber band is overly stretched in either direction (weighted average Market Strength Rating is 4.6 on a scale of 1/Strongest to 9/Weakest, a large 0.8 drop from last Friday 7/26/24)

Special highlight:

See page I-1 for a unique top-down perspective
See page I-2 for a look at previous bottoms through this top-down perspective
Though not fool-proof this “Sector Risk Gauge” perspective gives unique and objective insight into how far downward the market is stretched.

Current Stats

Note this week only the Food & Beverage industry strengthened (out of 29), while the Utilities industry was unchanged

Market Strength Score: -85%, no new Longs
0 of 29 industry rankings strengthened, 18 weakened/Section II
7% of 198 sub-industries strengthened, 76% weakened/Section III
18% of 2,638 stocks positive, 81% negative, 31% stocks rated Strongest, 17% Weakest/Section IV

Leading Sector with a 3.8 weighted average ranking:

Financial Sector (Banking, Financial Services, Insurance, Real Estate)

Lagging Sectors/industry groupings with a 5.3 weighted average ranking:

Technology Sector (Computer Hardware, Computer Software & Services, Electronics, Internet, Telecommunications)
Industry Group 1 (Automotive, Energy, Materials & Construction, Metals & Mining, Transportation)

Leading Sub-industries (minimum 3 stocks) with a 1Strongest ranking: