I don't use it, but it's a tool i'd use if I were doing your style of analysis. I think it's quite popular with instos/ funds etc.
You don't just compare stocks.
You would use to measure relative performance of each sector you listed above and then determine how it's performing relative to the benchmark(XJO/XAO etc)
Sectors get categorized into Improving, Leading, Weakening and Lagging based on their relative performance to each other and to the benchmark( XJO, XAO). So it makes it very easy to determine what sectors are improving/ weakening/ strongest/weakest etc.
