Here are the industries with 75% or more of their stocks advancing today.
These are all the industries with stocks making new highs.
Common to both lists is one of the former leading groups, diversified utilities. The first thing I noticed looking at this is that the last time it dived like this was almost exactly a year ago. which brings into question whether or not the stocks here really weakened, or if it is just a case of a 52 week cycle (unles they spent the entire years going up, at some point they will be closer to a 52 week low than a 52 week high even though they are fairly strong). In the case of this group, they actually did drop pretty dramatically recently, and many are bouncing back, so that concern doesn't fit here. The other utility groups are doing well today also, so it would be a good idea to take a look at thise, as many could probably just as easily be placed in this group.
I am not a financial professional, just a guy that trades my own account.
I am also not a musical professional, just a guy that makes music on the computer. Thus, two blogs, one trading and on musical.
And, no, the picture is not me, it is the late, great John Belushi, one of the inspirations for these blogs.
This blog is focused on technical analysis of stocks and markets, putting heavy emphasis on chart analysis. My trading style is derived primarily from my mentor, William "Yoda" O'Neil, and the focus here is on leading and breakout stocks, but all forms of trading are covered to some extent. Economic and political news that effects the market are also topics here, and the blog may occasionally become a platform for my political and philosophical ranting. I keep several spreadsheets on Google docs which track various aspects of the market and readers are welcome to vies and comment on them.
Google Docs Spreadsheets
There are several spreadsheet that I maintain on Google docs to track various watchlists and trends in the market.
1. The earnings list - a group of small and micro cap, low float stocks that have exhibited recent rapid earnings growth. They are modeled along the lines of William O'Neil's CAN SLIM system, but limited to small cap, highly volatile stocks.
2. The relative strength list - a group of stocks which are near 52 week highs and have shown an increase in average daily volume. The list is limited to the top 200 stocks according to my methodology, which will be detailed on one of the pages of the spreadsheet.
It can be accessed here, and is also updates weekly.
3. Relative strength by industry - Uses industry data from Finviz.com to track the percentage of stocks within each industry that are in the top 25% of the 52 week price range, looking for trends.