Sector RS Rank Nov 4: Gold Miners Lead, Oil & Gas Fall
Contents
💡 Today’s US market in three lines
① Today’s three stocks: Lowe’s · Glaukos · Dollar Tree
② What rose today: gold and silver miners, homebuilders, medical devices
③ What pulled back: oil and gas, AI power infrastructure, semiconductors
Today’s Sector Relative Strength (RS)
- Democrats won control of both chambers of Congress, and stocks rallied the day after the vote. The Dow jumped +3.03% to 53,356.12, a gain of about 1,569 points. The S&P 500 rose +1.58% to 7,688.62, and the Nasdaq added +1.44% to 25,736.51. WTI crude fell -7.88% to $88.52 on signs of easing tension between the US and Iran. Gold rose +3.32% to $4,071.40. The 10-year Treasury yield slipped to 4.89% from 4.95%, and the VIX fell to 16.61 from 20.83. AI-linked names were the weak spot. Micron lost -7.00%, and Vistra dropped -13.83%.
- Of the 129 ETFs in our universe, 85 closed higher and 44 fell. Consumer discretionary (XLY) led the 11 sectors at +4.26%. Energy (XLE) was last at -4.74%. Eight sectors rose, and three fell. The equal-weight S&P 500 (RSP) gained +1.86%, ahead of the cap-weighted index. This was a broad rally, not a few large 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) | +6.72% | 99 | 🔺 | 🔺 | 🔺 |
| SPDR S&P Retail (XRT) | +5.54% | 99 | 🔺 | 🔺 | 🔺 |
| iShares U.S. Home Construction (ITB) | +7.25% | 98 | 🔺 | 🔺 | 🔺 |
| Amplify Online Retail (IBUY) | +5.18% | 97 | 🔺 | 🔺 | 🔺 |
| Consumer Staples Select Sector SPDR (XLP) | +3.36% | 96 | 🔺 | 🔺 | 🔺 |
- The top of the table turned over. Utilities (XLU) fell from 99 to 88, UTES from 99 to 74, and insurance (IAK) from 98 to 93. Retail (XRT), home construction (ITB), and online retail (IBUY) took their places. ITB climbed back from 82 to 98 in the sheet, one day after a sharp drop.
Why They’re Strong — Sector Issues
· Gold Miners (GDX) — Up +9.01%, sheet RS rank 34. Gold rose +3.32%, and the miners moved almost three times as much. Equinox Gold rose +12.80%, Newmont +9.90%, and Coeur Mining +8.72%. Junior miners (GDXJ) gained +9.62% and silver miners (SIL) +9.60%. A softer dollar and lower yields helped. The rank is still in the bottom half.
· Home Construction (ITB) — Up +7.25%, sheet RS rank 98. Trex jumped +14.30%, Champion Homes +11.35%, and Floor & Decor +10.92%. The fund fell -3.56% on Tuesday. Lower yields brought buyers straight back.
· Airlines (JETS) — Up +6.70%, sheet RS rank 69. JetBlue rose +11.95%, Frontier +9.58%, and Allegiant +9.50%. Fuel is a carrier’s largest variable cost, and crude fell -7.88%. The rank was 34 five sessions ago.
· Medical Devices (IHI) — Up +6.72%, sheet RS rank 99. Zimmer Biomet rose +13.49%, Intuitive Surgical +9.38%, and Medtronic +6.15%. Health care rallied broadly after the vote. Hospital operator HCA gained +10.34% on hopes that Democrats resist Medicaid cuts.
What Changed From Yesterday
- Genomics (GNOM) posted the biggest one-day rank gain, 43 to 71, though about two thirds of it came from a weak day a month ago leaving the window. Gold miners (GDX) went from 25 to 48, and equal-weight biotech (XBI) from 57 to 76.
- Oil (USO) lost the most, 98 to 61. Energy (XLE) fell from 83 to 60, and two explorer funds lost 22 points each. Utilities (UTES) dropped from 88 to 57, but about two thirds of that came from a strong day a month ago leaving the window. Tuesday’s report called the crypto jump a bounce, not a new trend. Blockchain (BKCH) gave back -2.69% today, so that call held.
1-Month RS Trend
- Airlines (JETS) rose from 1 to 75 over the window. Solar (TAN) went from 2 to 68. Gold miners (GDX) started at 98, sank near the bottom, and are back at 48. Oil explorers (XOP) slid from 94 to 46. AI power infrastructure (AIPO) peaked at 83 and ended at 8.
RS Breakdown Warnings
- Oil services (OIH) fell from 93 to 40, the deepest drop. Ten more funds qualified, most of them energy: explorers, oil equipment, gas producers, crude oil, and pipelines. Utilities (UTES) and global shipping (BOAT) are on the list too. Eight funds were dropped because Wednesday’s price moved the other way, mostly software and cybersecurity.
RS Rebound Signals
- Airlines (JETS) jumped from 27 to 75, the strongest rebound. Solar, timber, European defense, GLP-1, and wind energy followed. Silver miners (SIL) and gold miners (GDX) also qualified. Two other funds were dropped because the price moved the other way, junior gold miners (GDXJ) among them.
Today’s Top Rising Sectors TOP 5 (by 1-day %)
| ETF | 1-Day | RS Rank 1M | Short-Term | Mid-Term | Long-Term |
|---|---|---|---|---|---|
| VanEck Junior Gold Miners (GDXJ) | +9.62% | 21 | 🔽 | 🔽 | 🔽 |
| Global X Silver Miners (SIL) | +9.60% | 20 | 🔽 | 🔽 | 🔽 |
| VanEck Gold Miners (GDX) | +9.01% | 34 | 🔺 | 🔽 | 🔽 |
| iShares U.S. Home Construction (ITB) | +7.25% | 98 | 🔺 | 🔺 | 🔺 |
| iShares U.S. Medical Devices (IHI) | +6.72% | 99 | 🔺 | 🔺 | 🔺 |
Why They Rose
- Two groups led. Precious metal miners followed gold higher, though all three still sit below their longer averages. Home construction and medical devices were already near the top of the sheet. On the other side, oil (USO) -8.07%, oil explorers (XOP) -6.39%, AI power infrastructure (AIPO) -6.33%, and oil and gas producers (IEO) -6.30% led the decliners. Reports said investors worried that new Democratic governors could slow data center construction.
Leading Sectors: Medical Devices, Retail, Home Construction
- ① Medical devices (IHI) rank 99, up from 97. The fund is above every average.
- ② Retail (XRT) also ranks 99. It had slipped to 93 on Tuesday and came straight back.
- ③ Home construction (ITB) ranks 98, up from 82. It erased Tuesday’s loss in one session.
- ④ The last report covered the November 3 close. Its three picks from that close to Wednesday’s: Fiserv +6.25%, Neurocrine Biosciences +0.73%, and Sirius XM +8.44%, against +1.58% for the S&P 500. Two of three beat the index. Neurocrine lagged. Sirius XM closed at $33.40, above the $32.59 July high the report flagged. All three stayed above their marks. Recorded as is.
Today’s Three Stocks — Lowe’s · Glaukos · Dollar Tree Stock Forecast
- Ninety-one stocks passed the four-part filter. These three fit the day’s leaders.
Lowe’s (LOW) — Home Improvement Retailer Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Lowe’s (LOW) | 92 | 96 | 95 | +24.9% | iShares U.S. Home Construction 4.5% · SPDR S&P Homebuilders 3.4% · Consumer Discretionary Select Sector SPDR 3.1% |
- Closed at $229.38, +7.50%. Lowe’s sells home improvement goods to homeowners and contractors. The Lowe’s stock forecast depends on rates and housing turnover. Second-quarter sales rose to $26.0 billion from $24.0 billion, helped by acquisitions. Comparable sales grew only +0.2%. Net earnings were $2.4 billion, and diluted EPS held flat at $4.27. Lowe’s trimmed its full-year sales outlook to about $92.0 billion. The third-quarter report is the next test.
Glaukos (GKOS) — Eye Care Device Maker Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Glaukos (GKOS) | 85 | 100 | 100 | +52.7% | iShares U.S. Medical Devices 1.8% |
- Closed at $246.70, +5.86%, a one-year high close. Glaukos makes implants and drug delivery devices for glaucoma. It reported on October 28. The Glaukos stock forecast rests on its iDose implant. Net sales rose +58% to $211.0 million, and iDose brought in about $76 million. GAAP net income was $2.0 million, after a loss a year ago. The company raised its 2026 sales guidance to $775 million to $785 million and set a first look at $1 billion for 2027.
Dollar Tree (DLTR) — Discount Retailer Stock Forecast
| Stock | RS 1D | RS 5D | RS 1M | 1M Return | Held By |
|---|---|---|---|---|---|
| Dollar Tree (DLTR) | 97 | 96 | 96 | +26.5% | SPDR S&P Retail 1.5% · Consumer Staples Select Sector SPDR 1.5% |
- Closed at $147.00, +9.64%, a one-year high close. Dollar Tree runs discount stores across the US. No single report explained Wednesday’s move. The Dollar Tree stock forecast leans on steady store traffic. In the second quarter, net sales rose +7.0% to $4.9 billion, and comparable sales grew +3.7%. Diluted EPS was $2.70, including a $1.31 tariff refund benefit. Dollar Tree raised its full-year adjusted EPS outlook to $7.70 to $8.05.
Lowe’s · Glaukos · Dollar Tree Stock Forecast Checkpoints
· Lowe’s stock forecast — The stock gapped up from Tuesday’s close of $213.38. Watch whether it holds above $213.38. The February high close of $287.39 is still far above.
· Glaukos stock forecast — The stock is at a one-year high close. Watch whether it stays above $233.04, Tuesday’s close. The 20-day average sits lower at $188.55.
· Dollar Tree stock forecast — This was the largest one-day gain of the three. Watch whether it holds above $134.07, the close before the jump.
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 10-year yield fell to 4.89%, and homebuilders led again. A hot jobs or inflation number could undo that quickly.
- Vistra results, Friday, November 6, 8:00 a.m. ET · Constellation Energy results, Monday, November 9, 8:00 a.m. ET
- AI power infrastructure (AIPO) ranks 8 after peaking at 83. Two power producers report as data center worries grow.
- OPEC monthly oil market report, Wednesday, November 11, 8:00 a.m. ET · Occidental Petroleum results, Monday, November 9, 4:00 p.m. ET
- Eleven funds sit on the breakdown list, most of them energy. OPEC’s demand view and one producer’s results will test whether oil has found a floor.
- 🔴 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 lagged on Wednesday.
