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Monday, October 10, 2011

Today's Leading Industry

 As expected, there are about 50 industries that have 100% of their stocks advancing, so I did not bother with that scan. These are all the industries that have stocks making new highs today.

The obvious choice as the leading industry is cigarettes, and with another week of relative strength data it is worth graphing again. I have been over this group ad nauseum, but it is clearly the strongest group in the market now, and has 3 of 7 stocks hitting new highs. You might expect this to weaken in terms of relative strength if the market goes into an up trend, since it is considered a defensive area, but that has not been the case in recent history.

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