[PLUS] Weekly Momentum Report & Takeaways

Steve Strazza
December 13, 2021

From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

  • This week, our macro universe was in the green as 79% of our list closed higher with a median return of 2.45%.
  • Lumber $LB was a massive winner again, closing out the week up more than 17%.
  • The biggest loser was the Volatility Index $VIX, with a weekly loss of -39.06%.
  • There was a 13% gain in the percentage of assets on our list within 5% of their 52-week highs – this reading is currently at 51%.
  • Only 13% of our list made new 4-week lows, compared to 64% last week.
  • Meanwhile, only 15% of our list made new 4-week highs.
  • The median asset in our macro universe is 4.5% below its 52-week highs (6.2% last week).
  • 40% of our macro universe closed higher than their prior week's high.
  • Only 38% of our list is in a bullish momentum regime (no change from last week).

International Universe:

  • Our International Equities universe was positive across the board this week as 92% of our list closed higher with a median return of 2.61%.
  • Turkey $TUR was the leader this week with a 6.53% gain.
  • Russia $RSX was the biggest loser this week, dropping -2.65%.
  • There was a 17% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 31%.
  • The median asset in our international universe ticked closer to a 52-week high (now 8.4% versus 10.3% last week).
  • 23% of our list is in a bullish momentum regime (no change from last week).
  • 12% of our list made fresh 4-week highs, 11% made new 13-week highs, and 8% made new 52-week highs.
  • BRIC $BKF posted a bullish reversal week.

US Sector Universe:

  • Our sector universe had a strong week as 98% of our list closed higher with a median return of 3.10%.
  • Small Cap Energy $PSCE was the big winner, closing with a 9.58% gain.
  • On the flip side, the week's biggest loser was Mid Cap Telecommunication which dropped by -1.06%.
  • 21% of our sector list made fresh 4-week highs, 21% made new 13-week highs, and 11% made new 52-week highs.
  • The percentage of assets on our list within 5% of their 52-week highs went up from 28% to 60%.
  • 47% of our sector universe closed higher than their prior week's high.
  • 53% of our list is in a bullish momentum regime (no change from last week).
  • Equal Weight Technology $RYT posted a bullish reversal week.

US Industry Universe:

  • Our Industry universe was up big this week, with 93% closing higher with a median return of 3.07%.
  • This week's biggest winner was Oil Services $OIH which gained 9.51%.
  • The biggest loser this week was Pharmaceuticals $XPH which dropped -1.82%.
  • 7% of our industry list made fresh 4-week highs, 13-week highs, and 52-week highs.
  • Meanwhile, we saw only 7% of industry groups make fresh 4-week lows.
  • The percentage of our list in a bullish momentum regime went unchanged and is currently at 51%.
  • 27% of the assets on our industry list are within 5% of their 52-week highs (18% improvement from last week).

  • On balance, the ETFs in our industry universe inched closer to a 52-week high. The median drawdown is now 9.8%, compared to 13.1% last week.
  • 29% of our industry universe closed higher than last week's high.

That's it for this week's highlights!

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Thanks for reading and please let us know if you have any questions!

Allstarcharts Team

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