8 of the top 10 leaders in the Dow Jones Industrial Average are healthcare or financial stocks. That means the current leadership is not coming from the usual mega-cap tech playbook. It is coming from a more value-heavy part of the market.
Here’s the table:
Let's break down what the table shows:
The table lists all 30 Dow Jones Industrial Average stocks, grouped into leaders, middle of the pack, and dogs of the Dow.
Each row shows year-to-date performance, market cap, sector, industry, trend ranking, RSI value, RSI regime, and distance from the 50-day average, 200-day average, 52-week high (sorted), and all-time high.
Green shading marks stronger readings, while red shading marks weaker readings.
The Takeaway: 8 of the top 10 Dow leaders are coming from healthcare and financials.
That is the number that stands out to me, because it captures the rotation taking place beneath the surface. The Dow is not saying “risk on everywhere.” It is showing money moving into a different kind of leadership.
Healthcare has quietly moved back to the front of the table. UnitedHealth, Merck, Johnson & Johnson and Amgen all have strong trend rankings and bullish RSI regimes. That is not the group most investors instinctively look at after years of growth and technology leadership.
Financials are just as important. Travelers, JPMorgan, Visa and Goldman Sachs are also sitting in the leaders group. When healthcare and financials make up 8 of the top 10, the market is rewarding earnings visibility, cash flow, balance sheet strength and value over pure growth.
Apple is the exception. It still looks strong, but it is standing on its own. The broader technology message is far more mixed, with Microsoft, Salesforce and IBM sitting near the bottom of the table.
And the weakness is not mild. Disney, McDonald’s, Microsoft, IBM and Salesforce all have trend rankings of 0. They are not just lagging. They are being rejected.
So I would not look at the Dow and assume the old leadership is still in control. I’d be leaning into the confirmed leaders, especially healthcare and financials, while staying selective with tech.
The market is rewarding different stocks now. That is where my attention goes.
