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S&P 500 (INDEXSP:.INX) Market Internals and Names You Should Be Watching


Amazon, Google, AT&T, and Home Depot make the list.

MINYANVILLE ORIGINAL It's that time of the week where brings you S&P 500 (INDEXSP:.INX) market internals and names you should be watching. We will be reviewing: 1) the strongest S&P 500 companies by sector, 2) the strongest 20 S&P 500 names, 3) the top 10 overbought and oversold S&P 500 names, and 4) a heat map of the S&P 500 broken down by Buy/Sell Algorithm, and 5) the most rapidly improving S&P 500 names.

Before we talk about the strongest names in the S&P, let us first tell you about's proprietary rating system. This algorithm does not use the standard MACD and moving averages; we feel that looking at the same technical data provides little edge over other market participants. This algorithm has been used for the last 13 years in running institutional money. The rating is as follows: Strong Sell (1), Sell (2), Neutral (3), Buy (4), Strong Buy (5).

The first chart below references the 1- to 5-day trend of the strongest 20 names in the S&P 500 by sector. "Strongest" does not mean percent return or performance. We like looking at this information for several reasons. Two months ago the list was dominated by telecoms and utilities. Another interesting thing to note is financials; six weeks ago there were no banks on this list. As we saw this shift we anticipated a further rally to the upside. For the last several weeks we have seen consumer service and health care dominate the list.

No positions in stocks mentioned.
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