Sector RS Rank Nov 5: Video Games Lead, Chips Fall
Contents
💡 Today’s US market in three lines
① Today’s three stocks: Cboe Global Markets · Erie Indemnity · Primo Brands
② What rose today: oil, video games, gold miners
③ What pulled back: meme stocks, AI chips, semiconductors
Today’s Sector Relative Strength (RS)
- Chip stocks collapsed one day after the post-election rally. The Nasdaq fell -5.52% to 24,315.00. The S&P 500 dropped -4.36% to 7,353.73, and the Dow lost -3.44% to 51,523.06, about 1,833 points. Micron fell -17.46% and AMD -17.26%. Nvidia lost -9.26%, Broadcom -10.43%, and Qualcomm -9.49% after a weak outlook. Reports tied the selloff to worries about AI and data center rules after the Democratic sweep. WTI crude rose +3.22% to $90.96. Gold added +0.61% to $4,098.00. The 10-year yield slipped to 4.84%, and the VIX jumped to 28.18 from 16.61.
- Of the 129 ETFs in our universe, only 6 closed higher. Another 122 fell, and 1 was flat. All 11 sectors fell. Communication services (XLC) held up best at -0.59%. Technology (XLK) was last at -8.00%. The equal-weight S&P 500 (RSP) lost -2.89%, less than the cap-weighted index. The damage was heaviest in the largest names.
Today’s Leading Sectors TOP 5
| ETF | 1-Day | RS Rank 1M | Short-Term | Mid-Term | Long-Term |
|---|---|---|---|---|---|
| iShares U.S. Medical Devices (IHI) | -1.98% | 99 | 🔺 | 🔺 | 🔺 |
| iShares U.S. Home Construction (ITB) | -1.67% | 98 | 🔺 | 🔺 | 🔺 |
| Consumer Staples Select Sector SPDR (XLP) | -0.75% | 97 | 🔺 | 🔺 | 🔺 |
| SPDR S&P Insurance (KIE) | -0.56% | 96 | 🔺 | 🔺 | 🔺 |
| iShares U.S. Insurance (IAK) | -1.02% | 96 | 🔺 | 🔺 | 🔺 |
- Two insurance funds moved in. KIE rose from 90 to 96 and IAK from 93 to 96. Retail (XRT) slipped from 99 to 95, and online retail (IBUY) from 97 to 87. Every fund in the table fell today. They simply fell less than the market.
Why They’re Strong — Sector Issues
· Video Gaming (ESPO) — Up +1.37%, sheet RS rank 81. Unity jumped +14.93%, NetEase rose +4.37%, and Take-Two Interactive +2.13%. Game makers have little exposure to data center spending. That made them a place to hide.
· Gold Miners (GDX) — Up +1.37%, sheet RS rank 56. Royal Gold rose +6.18% and Newmont +1.35%. Gold edged up as stocks fell. The rank was 34 a day earlier.
· Insurance (KIE) — Down -0.56%, sheet RS rank 96. Skyward Specialty rose +2.64%, Erie Indemnity +2.03%, and Ryan Specialty +1.51%. Insurers earn on premiums, not on chips. Investors bought that steadiness.
· Oil (USO) — Up +1.93%, sheet RS rank 74, the best one-day gain in our universe. Crude climbed back above $90 after Wednesday’s -7.88% drop. Reports pointed to tension with Iran.
What Changed From Yesterday
- Gold miners (GDX) posted the biggest one-day rank gain, 48 to 67. About two thirds of it came from a weak day a month ago leaving the window. Oil (USO) went from 61 to 74 on its own move. Video gaming (ESPO) climbed from 71 to 80, into the top tier.
- Genomics (GNOM) lost the most, 71 to 53. Equal-weight biotech (XBI) fell from 76 to 64, and digital infrastructure (IDGT) from 30 to 19. Wednesday’s report flagged worries that data center construction could slow. That worry hit chips hard today, with semiconductors (SMH) down -11.21%.
1-Month RS Trend
- Video gaming (ESPO) rose from 64 to 80 over the window. Oil (USO) started at 100 and ended at 74. Gold miners (GDX) began at 99, sank near the bottom, and are back at 67. Semiconductors (SMH) slid from 25 to 6. Blockchain (BKCH) fell from 91 to 2.
RS Breakdown Warnings
- Cybersecurity (BUG) fell from 95 to 41, the deepest drop. Fifteen more funds qualified. Energy dominates the list: explorers, gas producers, oil services, and pipelines. Cloud computing, defense tech, and shipping are there too. One fund on the chart, US infrastructure (IFRA), was dropped because its sheet rank rose over the same five sessions.
RS Rebound Signals
- Junior gold miners (GDXJ) jumped from 9 to 54, the strongest rebound. Gold miners (GDX) and gold (GLD) also qualified. Twelve other funds were dropped because Thursday’s price moved the other way. Silver, solar, and timber were among them.
Today’s Top Rising Sectors TOP 5 (by 1-day %)
| ETF | 1-Day | RS Rank 1M | Short-Term | Mid-Term | Long-Term |
|---|---|---|---|---|---|
| United States Oil Fund (USO) | +1.93% | 74 | 🔽 | 🔺 | 🔺 |
| Global X Video Games and Esports (HERO) | +1.53% | 79 | 🔺 | 🔺 | 🔺 |
| VanEck Video Gaming and Esports (ESPO) | +1.37% | 81 | 🔺 | 🔺 | 🔺 |
| VanEck Gold Miners (GDX) | +1.37% | 56 | 🔺 | 🔽 | 🔽 |
| SPDR Gold Shares (GLD) | +0.81% | 60 | 🔺 | 🔽 | 🔽 |
Why They Rose
- Only six funds rose at all. Oil, two gaming funds, and gold made up the top five. Junior gold miners (GDXJ) were the sixth. On the other side, meme stocks (MEME) -13.30%, AI chips (CHPX) -12.35%, semiconductors (SOXX) -12.15%, and blockchain (BKCH) -11.62% led the decliners. Nine funds fell more than -10%.
Leading Sectors: Medical Devices, Home Construction, Consumer Staples
- ① Medical devices (IHI) held at 99. The fund is still above every average.
- ② Home construction (ITB) held at 98. Lower yields gave it a cushion.
- ③ Consumer staples (XLP) rose from 96 to 97. It fell only -0.75% on a -4.36% day.
- ④ The last report covered the November 4 close. Its three picks from that close to Thursday’s: Lowe’s -0.93%, Glaukos -10.83%, and Dollar Tree -6.16%, against -4.36% for the S&P 500. One of three beat the index. Lowe’s held above its $213.38 mark, and Dollar Tree stayed above $134.07. Glaukos closed at $219.98, below the $233.04 level the report flagged. Recorded as is.
Today’s Three Stocks — Cboe Global Markets · Erie Indemnity · Primo Brands Stock Forecast
- Eighty-one stocks passed the four-part filter. These three closed higher on a down day, backed by recent results.
Cboe Global Markets (CBOE) — Options Exchange Operator Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Cboe Global Markets (CBOE) | 97 | 96 | 96 | +25.4% | iShares U.S. Broker-Dealers and Securities Exchanges 3.3% |
- Closed at $353.07, +2.28%. Cboe runs options and stock exchanges and the VIX index. Volatility tends to lift its trading volume. The Cboe Global Markets stock forecast leans on that link. It reported on October 30. Net revenue rose +18% to $712.2 million. Diluted EPS was a record $4.08, up +43%. Options net revenue grew +23% to $469.5 million.
Erie Indemnity (ERIE) — Insurance Management Company Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Erie Indemnity (ERIE) | 96 | 97 | 98 | +31.2% | SPDR S&P Insurance 2.0% |
- Closed at $285.63, +2.03%. Erie manages the Erie Insurance Exchange and earns fees on its policies. The Erie Indemnity stock forecast rests on steady fee growth. It reported on October 29. Net income was $182.0 million, about flat from a year ago. Fee revenue from policy issuance and renewal rose +2.6%. The stock has gained +31.2% in a month.
Primo Brands (PRMB) — Bottled Water Company Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Primo Brands (PRMB) | 99 | 97 | 85 | +16.6% | Global X Clean Water 2.8% |
- Closed at $22.15, +5.38%. Primo sells spring water and delivers water to homes and offices. It reported Thursday morning. Net sales rose +3.1% to $1.82 billion. The board approved a new $300 million share buyback. Primo now sees full-year adjusted EBITDA at the low end of its range. The Primo Brands stock forecast depends on whether costs stay in check.
Cboe Global Markets · Erie Indemnity · Primo Brands Stock Forecast Checkpoints
· Cboe Global Markets stock forecast — The VIX nearly doubled in a day. Watch whether the stock holds above $345.21, Wednesday’s close. The May high close of $366.70 is next.
· Erie Indemnity stock forecast — The stock sits well above its 20-day average of $249.95. Watch whether it stays above $279.96, the close before Thursday.
· Primo Brands stock forecast — This was the largest gain of the three, on results day. Watch whether it holds above $21.02, the close before the report.
What to Watch on Next Week’s Calendar
- 🔴 October jobs report, Friday, November 6, 8:30 a.m. ET · 🔴 October CPI, Tuesday, November 10, 8:30 a.m. ET
- The VIX sits at 28.18 after a -4.36% day for the S&P 500. A weak jobs number or hot inflation could deepen the selloff.
- CoreWeave results, Tuesday, November 10, 4:00 p.m. ET · Applied Materials results, Thursday, November 12, 4:00 p.m. ET
- Semiconductors (SMH) rank 8, and AI chips (CHPX) rank 5. An AI cloud provider and a chip equipment maker will show whether spending plans are changing.
- 🔴 US–China tariff pause deadline, November 10 · 🔴 Anthropic’s planned Nasdaq IPO, roadshow expected the week of November 9
- Both could move tech and chip stocks, which led Thursday’s decline.
- OPEC monthly oil market report, Wednesday, November 11, 8:00 a.m. ET
- Oil (USO) led the day with +1.93%, but sixteen funds sit on the breakdown list, most of them energy. OPEC’s demand view will test the bounce. The bond market is closed that day for Veterans Day.
