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 slightly red again this week as 62% of our list closed lower with a median return of -0.27%.
- This week, lumber $LB was the winner, closing with a 7.83% gain.
- The biggest loser was Oil $CL, with a weekly loss of -2.18%.
- There was a 4% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
- 15% of our macro list made fresh 4-week highs, 9% made new 13-week highs, and 2% made new 52-week highs.
- Meanwhile, 30% of our list made fresh 4-week lows, 23% made new 13-week lows, and 2% made new 52-week lows.
- The median asset in our macro universe is 8.3% below its 52-week highs (7.7% last week).
- 38% of our macro universe closed lower than their prior week's low.
- Meanwhile, only 6% of our list closed higher than their prior week's high.
- 74% of our list is in a bearish momentum regime (3% drop from last week).
International Universe:
- Our International ETF universe had a rough week as 59% of our list closed lower with a median return of -0.33%.
- This week, Thailand $THD was the leader with a 2.69% gain.
- Sweden $EWD was the biggest loser this week, dropping -3.23%.
- 38% of our international universe closed lower than their prior week's low.
- There was a 3% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 19%.
- The median asset in our international universe is 11.1% below its 52-week high (9.8% last week).
- 75% of our list is in a bearish momentum regime (a 3% drop from last week).
- 22% of our international list made fresh 4-week highs, 13% made new 13-week highs, and 2% made new 52-week highs.
- Meanwhile, 19% of our list made fresh 4-week lows.
- Saudi Arabia $KSA posted a bullish reversal week.
US Sector Universe:
- Our sector universe had a negative week as 68% of our list closed lower with a median return of -0.73%.
- Mid Cap Materials was the winner this week, closing with a 2.91% gain.
- The biggest loser was Mid Cap Energy, with a weekly loss of -4.45%.
- 32% of our sector list made fresh 4-week lows, 30% made new 13-week lows, and 2% made new 52-week lows.
- Meanwhile, 21% of our list made fresh 4-week highs.
- There was a 6% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
- 40% of our sector universe closed lower than their prior week's low.
- 79% of our list is in a bearish momentum regime (no change from last week).
US Industry Universe:
- Our Industry universe was down this week, with 78% closing lower with a median return of -1.34%.
- This week's biggest winner again was Gold Miners $GDX which gained 6.38%.
- This week's biggest loser was Expanded Tech-Software $IGV, dropping -5.41%.
- The percentage of our list in bullish momentum regimes had no change this week and has a current reading of 31%.
- 16% of the assets on our industry list are within 5% of their 52-week highs (a 2% drop from last week).
- The median asset in our industry universe is 15.6% below its 52-week highs (15.8% last week).
- 38% of our industry universe closed lower than last week's low.
- 27% of our industry list made fresh 4-week lows, 27% made new 13-week lows, and 20% made new 52-week lows.
- Meanwhile, 16% of our list made fresh 4-week highs.
That's it for this week's highlights!
