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

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

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MINYANVILLE ORIGINAL It's that time of the week where ChartLabPro.com 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 ChartLabpro.com 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 ChartLabPro.com'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.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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