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Thursday, March 15, 2012

Today's Leading Industry

Here are the industries with 75% or more of their stocks advancing.

These are the industries with 20% or more of their stocks making new highs.

Residential construction has been moving up fast in relative strength, and has a very high number of stocks both advancing and hitting new highs today. I have pointed out before that these are all well off their 5 year highs, a fact which is irrelevant in the type of trading I do, There are 17 stocks in the group, and very few are still in down trends. I will be watching this group to see how they behave if we do go into a correction, and if we don't I may start looking at some of the lagging stocks as they look like they are getting ready to move up.

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