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Charts courtesy of stockcharts.com

Thursday, July 21, 2011

Today's Leading Industry

Here are the industries with 90% or more of their stocks advancing today.

 These are the industries that have 15% or more of their stocks making new highs.

One group on both lists, and one I don't think I have graphed before, is diversified utilities, a 25 stock group. Long term relative strength is still rising here, although we will see the moving averages flatten out as it approaches 100%. Most of the charts in this groups are in strong up trends, with a few notable exceptions (such as PCG, the second biggest of the group). This roup held up very well during the recent correction, which isn't that much of a surprise cosidering this is one of the more defensive groups, but the long term strength is hard to figure out. This shows no signs of topping out any time soon.

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