Here are the industries with 70% or more of their stocks advancing today.
Here are the industries with 20% or more of their stocks making new highs.
A lot of home building related industries are among the leaders today, for reasons I do not know, but in the O'Neil system the reason is not important. However, one group I haven't looked at for a while is what is now the strongest group in the market, cigarettes. It is 7 stocks with only one weak one, CIGX, which is also the one that makes the fastest moves. One thing I noted on the graph is that during corrections, this group holds up better than most, but still weakens enough to signal a correction. Judging by where it is this week, it does appear to be weakening again, but not enough to signal an imminent correction. I will be watching this: further weakening could signal that the market is weakening as well.
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.