Are We Seeing a Cell Turnaround?
While flipping through the rolling 12-month relative strength charts for the 138 subindustries in the Standard & Poor's Composite 1,500 index (which consists of the large-cap S&P 500, MidCap 400 and SmallCap 600 indices), I noticed a smooth-looking turnaround in momentum for the S&P Wireless Telecom group. Year-to-date through June 20, the subindustry index rose 16.2%, vs. an 8.6% advance for the S&P 1,500 index. In 2006, the subindustry index was down 1.1%, vs. a 13.3% advance for the broader market.
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