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Monday, October 24, 2011

Today's Leading Industry

Once again there are over 40 industries with 100% of their stocks advancing today, which is of no help. Instead, here are the bottom industries, those with 50% or less of their stocks advancing.

Here are the industries with 10% or more of their stocks making new highs.

Here is a good example of what I saw this weekend when compiling the relative strength data. Diversified utilities has been a leading industry for several months, and is still among the leaders in relative strength, but took a big drop last week. It is not an anomaly: Every one of the top 10 also took big drops. That indicates to me that the leading industries are not leading this rally, and I would normally expect the rally to fail. It might, just not today.

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