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 flat this week as 53% of our list closed higher with a median return of 0.06%.
- Oil $CL was the winner this week, closing with a 6.24% gain.
- The biggest loser was Dow Jones Transports $DJT, with a weekly loss of -2.24%.
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 55%.
- 30% of our macro list made fresh 4-week highs, 17% made new 13-week highs, and 15% made new 52-week highs.
- Meanwhile, 26% of our macro list made fresh 4-week lows, 21% made new 13-week lows, and 11% made new 52-week lows.
- The median asset in our macro universe is 4.6% below its 52-week highs (4.8% last week).
- 34% of our macro universe closed lower than their prior week's low.
- Meanwhile, only 19% of our list closed higher than their prior week's high.
- 45% of our list is in a bullish momentum regime (2% gain from last week).
International Universe:
- This week, our International Equities universe was positive as 75% of our list closed higher with a median return of 1.15%.
- 47% of our international universe closed higher than their prior week's high.
- Brazil $EWZ was the leader with a 6.75% gain.
- Russia $RSX was the biggest loser, dropping -4.16%.
- There was a 7% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 38%.
- The median asset in our international universe is 8.1% below its 52-week high (8.6% last week).
- 27% of our list is in a bullish momentum regime (5% gain from last week).
- 61% of our sector list made fresh 4-week highs.
- Meanwhile, only 9% of our list made new 4-week lows.
- Norway $ENOR and Colombia $GXG both posted bullish reversals weeks.
US Sector Universe:
- Our sector universe had a negative week as 68% of our list closed lower with a median return of -0.37%.
- Small Cap Energy $PSCE was the big winner, closing with a 7.57% gain.
- The biggest loser was Small Cap Utilities which dropped by -2.71%.
- 19% of our sector list made fresh 4-week highs, 13% made new 13-week highs, and 13% made new 52-week highs.
- Meanwhile, 28% of our sector list made fresh 4-week lows, 11% made new 13-week lows, and 6% made new 52-week lows.
- The percentage of assets on our list within 5% of their 52-week highs fell from 60% to 55%.
- 43% of our sector universe closed lower than their prior week's low.
- 64% of our list is in a bullish momentum regime (no change from last week).
US Industry Universe:
- Our Industry universe was mostly green this week as 62% of the list closed higher with a median return of 0.75%.
- This week's biggest winner again was Oil Services $OIH which gained 7.71%.
- This week's biggest loser was Uranium $URA, which dropped -4.83%.
- The percentage of our list in bullish momentum regimes had a 4% gain this week and has a current reading of 53%.
- 31% of the assets on our industry list are within 5% of their 52-week highs (a 9% gain from last week).
- The median asset in our industry universe is 9.2% below its 52-week highs (up from 10.9% last week).
- 31% of our industry universe closed lower than last week's low.
- Meanwhile, 29% of our list closed higher than last week's high.
- 42% of our industry list made fresh 4-week highs while 29% made new 4-week lows.
- Broker-Dealer & Securities Exchange $IAI posted a bearish reversal week.
That's it for this week's highlights!
