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SCTR scanning reminder

lmkwinlmkwin ✭✭
in Using Technical Analysis
A SCTR.large are stocks that are or were once in the SP500. The stock may belong elsewhere in real life, but that is how StockCharts has decided to classify stocks.

Some stocks, like M (Macy's), are current members of the SP SmallCap 600 but were once members of the SP500 and are therefore and forever, classified as LARGE. JWN (Nordstrom) with a similar market cap to M, is a member of the SP MidCap 400 but listed as LARGE for SCTR purposes.

Just something to keep in mind if you use SCTR size declarations for scanning.

Comments

  • markdmarkd mod
    You should report this Support. Stockcharts has always promoted its data integrity, and SCTR classification ought to be considered a data integrity issue (do SCTR rankings mean anything if the constituents in the SCTR class don't belong there??).

    I believe I read somewhere that classifications (SCTR, sector, industry) are reviewed and updated quarterly. It can also take some time to classify new issues and sometimes that's done wrong, too.

    I can understand how there can be difficulties assigning some symbols to one industry or sector classification - many companies are in more than one business - so this has to be done manually. That's time consuming for staff and therefore expensive.

    It seems to me, though, that SCTR rankings by capitalization could be automated and updated daily (price x shares). Maybe there is something I don't know, or maybe its low priority.

    Maintenance often gets a low priority, but Stockcharts ought to pay attention to maintaining its classifications. Too much attention seems to be going to splashy things like StockchartsTV and not enough to the boring but essential nuts and bolts of delivering meaningful and accurate data.



  • lmkwinlmkwin ✭✭
    Reported. I agree that some classifications are difficult and Market Cap probably isn't one of them. I stumbled upon M and JWN in my review of candidates for my Public ChartList of Dynamic CSS Patterns on Point and Figure Charts. I review the SP 400 Mid, SP600 Sml, and the QQQ members.

    I normally don't scan for SCTR's (if I do, I use the MA of the SCTR) as they are a bit wonky. A stock like TWI, a member of the SP 600 lost it's SCTR several months ago. The SCTR tends to follow a ratio symbol line anyway, and those ratio relationships are not governed by a data bureaucracy.
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