Author: Paul Kornfeld

Amazon.com (AMZN) continues to struggle in the relative strength rankings of the SIA S&P 100 Index Report. Amazon.com had been trending lower for nearly two years and spent most of its time in the Red Unfavored Zone since leaving the green zone in November of 2020. This summer, it looked like AMZN was starting to stage a comeback, snapping a downtrend line and climbing up into the yellow zone. This now appears to have failed, however, with the shares rolling back down into the Red Unfavored Zone. Yesterday, AMZN fell one spot to 53rd place.

Google parent Alphabet (GOOG) has been sliding down the rankings in the SIA S&P 100 Index Report for most of this year. GOOG exited the green zone in April and has been unable to return with a recent rebound faltering near the top of the yellow zone. The shares have since slumped back into the Red Unfavored Zone.

Only a few days after it finally returned to the Green Favored Zone of the SIA S&P 100 Index Report, United Parcel Service (UPS) could potentially drop right back out again based on aftermarket trading last night. UPS finished the day in 25th place, two spots away from the yellow zone.

After spending the spring stuck in the red zone of the SIA S&P 100 Index Report, home improvement retailer Lowes (LOW) rose back up in the rankings through August. Upward relative strength momentum appears to have stalled, however, with Lowes sitting at the top of the Yellow Neutral Zone, still unable to return to the green zone which it exited in March. Yesterday, LOW slipped 1 position to 28th place, two spots outside of the green zone.

On a rough day for world markets, personal products producer Bausch Health (BHC.TO) was the top performer in the SIA S&P/TSX Composite Index Report yesterday with a gain of 2.5%. After spending over a year languishing in the red zone, BHC.TO has rocketed back up the rankings lately, recently returning to the Green Favored Zone for the first time since April of 2021. Yesterday, it finished in 44th place, up 90 spots in the last month.

In the last few days, IT cloud security provider Zscaler (ZS) has shot up the relative strength rankings in the SIA NASDAQ 100 Index reports, driving up from the red zone, where it had languished for six months, back up into the Green Favored Zone for the first time since February. Yesterday it finished in 16th place, up 10 spots on the day and up 66 positions in the last month.

Milk and cheese producer Saputo (SAP.TO) spent the last five years stuck in the red zone of the SIA S&P/TSX Capped Composite Index Report. In recent weeks, however, it has rocketed back up the rankings and recently returned to the green Favored Zone for the first time since the spring of 2017. On Friday it finished in 59th place, up 11 spots in the last week.

Starbucks’ (SBUX) relative strength has steadily been improving for several months now. In the SIA NASDAQ 100 Index Report, SBUX bottomed out in April deep in the red zone and has climbed back up toward the top of the Yellow Neutral Zone. After moving up 26 positions over the last month, Starbucks is currently sitting in 29th place, 3 spots outside of the green zone.