Lowry Weekly Industry Group Commentary Week of April 20, 2023

With this week’s Mid-Week Commentary emphasizing the underlying weakness in small caps, it is clear that participation and Demand intensity must improve in the smaller market-capitalization segments to improve the broad market’s outlook. Therefore, it is important to monitor the Lowry Industry Groups with the highest number of small-cap stocks within them to determine if there are any signs of bottoming or at least significantly improving conditions. As a result, this week’s Industry Group Commentary examines the two Groups holding the highest number of small-cap stocks in Regional Banks and Bio-Genetics. While both Groups rank among the lowest in overall Power Rating as pictured below, a closer look is still required to determine if positive divergences exist.