Trading with Intermarket Analysis by John J. Murphy

Author:John J. Murphy [Murphy, John J.]
Language: eng
Format: epub
ISBN: 978-1-118-42158-1
Publisher: Wiley
Published: 2013-06-14T16:00:00+00:00

■ Industry Group Leadership

The term sector rotation is commonly used to describe flows of funds between various market sectors. That term is also often used in a broader sense, however, to describe rotations among industry groups as well. Just as it’s good to know which sectors are leading the market, it’s also instructive to know which industry groups are contributing to that leadership. During the second half of 2007, for example, two of the top industry groups were gold and oil service stocks, which are subsets of the basic materials and energy sectors. (That was due to rising commodity prices.) By contrast, the weakest industries were homebuilders, banks, retailers, semiconductors, brokers, and REITs (in that order).

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