MarketSmith relative strength scans produced these winners and losers at the close of the Monday session. We’ll look for these stocks continue their current path, along with stocks in their industry groups that are mirroring with similar price action.
Energy stocks and related industry groups rose on Monday.
Oil and gas exploration, production and equipment stocks populated the most actives lists, in addition to the alternative energy group like battery charging and solar energy.
Bulk shipping and container stocks moved higher as well.
Fertilizer companies will likely continue higher in the coming months as prices for urea and ammonium nitrate more than doubled in recent reports.
Price hikes relative to sanctions are affecting corn and wheat as well.
Growth and technology stocks, semiconductors and software stocks put pressure on the Nasdaq-100 (NDX/QQQ). In addtion, investors took profits in travel related stocks, with airlines and cruise ship industries pulling back.
Look for these groups to continue lower in the coming weeks.
We also see strength in treasury bonds, and traditional safety hedges, like gold, silver, and commodities.