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Tuesday, March 27, 2012

Today's Leading Industry

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.

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