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:
- Our macro universe was green this week as 72% of our list closed higher with a median return of 0.52%.
- This week, Lumber $LB was the winner, closing with a 9.07% gain.
- The biggest loser was the Volatility index $VIX, with a weekly loss of -4.12%.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 55%.
- 57% of our sector list made fresh 4-week highs, 21% made new 13-week highs, and 19% made new 52-week highs.
- Meanwhile, only 13% of our list made new 4-week lows.
- The median asset in our macro universe is 3.7% below its 52-week highs (4.4% last week).
- 62% of our macro universe closed higher than their prior week's high.
- 43% of our list is in a bullish momentum regime (3% gain from last week).
International Universe:
- Our International Equities universe was positive this week as 72% of our list closed higher with a median return of 0.64%.
- 64% of our international universe closed higher than their prior week's high.
- Malaysia $EWM was the leader this week with a 3.05% gain.
- Turkey $TUR was the biggest loser this week, dropping -11.10%.
- There was a 3% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 30%.
- The median asset in our international universe is 8.9% below its 52-week high (9.0% last week).
- 22% of our list is in a bullish momentum regime (no change from last week).
- 42% of our sector list made fresh 4-week highs.
- Meanwhile, only 8% of our list made new 4-week lows.
US Sector Universe:
- Our sector universe had a positive week as 94% of our list closed lower with a median return of 1.38%.
- Large Cap Real Estate $XLRE was the big winner, closing with a 3.79% gain.
- The week's biggest loser was Small Cap Energy $PSCE which dropped by -1.06%.
- 77% of our sector list made fresh 4-week highs, 36% made new 13-week highs, and 32% made new 52-week highs.
- The percentage of assets on our list within 5% of their 52-week highs went up from 68% to 79%.
- 83% of our sector universe closed higher than their prior week's high.
- 64% of our list is in a bullish momentum regime (4% gain from last week).
US Industry Universe:
- Our Industry universe was up this week, with 67% closing higher with a median return of 0.44%.
- This week's biggest winner was Rare Earth/Strategic Metals $REMX which gained 4.39%.
- This week's biggest loser was Uranium $URA, which dropped -6.90%.
- 44% of our sector list made fresh 4-week highs, 13% made new 13-week highs, and 11% made new 52-week highs.
- Meanwhile, only 7% of industry groups made fresh 4-week lows.
- The percentage of our list in bullish momentum regimes had a 2% gain this week and has a current reading of 51%.
- 24% of the assets on our industry list are within 5% of their 52-week highs (no change from last week).
- The median asset in our industry universe is 11.1% below its 52-week highs (11.6% last week).
- 47% of our industry universe closed higher than last week's high.
That's it for this week's highlights!
