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 red this week as 60% of our list closed lower with a median return of -1.27%.
- This week, Oil $CL was the winner, closing with a massive 26.30% gain.
- The biggest loser was US 10-Year Yield $TNX, with a weekly loss of -13.19%.
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 30%.
- 38% of our macro list made fresh 4-week highs, 23% made new 13-week highs, and 17% made new 52-week highs.
- Meanwhile, 53% of our list made fresh 4-week lows, 43% made new 13-week lows, and 19% made new 52-week lows.
- The median asset in our macro universe is 9.2% below its 52-week highs (7.7% last week).
- 34% of our macro universe closed higher than their prior week's high.
- Meanwhile, 23% of our list closed lower than their prior week's low.
- 74% of our list is in a bearish momentum regime (no change from last week).
- Copper $HG posted bullish reversal week.
- US 2-Year Note $TU posted bearish reversal week.
International Universe:
- Our International Equities universe was negative again this week as 77% of our list closed lower with a median return of -3.56%.
- Qatar $QAT was the leader with a 6.74% gain this week.
- Russia $RSX was again the biggest loser, dropping a massive -63.78%.
- 44% of our international universe closed lower than their prior week's low.
- There was a 1% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 16%.
- The median asset in our international universe is 15.6% below its 52-week high (11.2% last week).
- 80% of our list is in a bearish momentum regime (No change from last week).
- 17% of our international list made fresh 4-week highs, 14% made new 13-week highs, and 6% made new 52-week highs.
- Meanwhile, 64% of our international list made fresh 4-week lows, 59% made new 13-week lows, and 44% made new 52-week lows.
US Sector Universe:
- Our sector universe had a negative week as 62% of our list closed lower with a median return of -0.83%.
- Small Cap Energy $PSCE was the winner this week, closing with a 13.18% gain.
- The biggest loser was Mid Cap Cyclicals which fell -5.16%.
- 34% of our sector list made fresh 4-week highs, 13% made new 13-week highs, and 11% made new 52-week highs.
- Meanwhile, 36% of our sector list made fresh 4-week lows, 32% made new 13-week lows, and 13% made new 52-week lows.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 23%.
- 36% of our sector universe closed higher than their prior week's high.
- 77% of our list is in a bearish momentum regime (a 2% drop from last week).
US Industry Universe:
- Our Industry universe was down this week, with 62% closing lower with a median return of -2.30%.
- This week's biggest winner again was Metals and Mining $XME, which gained a massive 14.18%.
- This week's biggest loser was again Global Jets $JETS, dropping -13.34%.
- Our list in bullish momentum regimes had a 2% gain this week and has a current reading of 33%.
- 24% of the assets on our industry list are within 5% of their 52-week highs (a 6% gain from last week).
- The median asset in our industry universe is 16.1% below its 52-week highs (13.9% last week).
- 33% of our industry universe closed higher than last week's high.
- 33% of our industry list made fresh 4-week highs, 22% made new 13-week highs, and 16% made new 52-week highs.
- Meanwhile, 49% of our industry list made fresh 4-week lows, 38% made new 13-week lows, and 27% made new 52-week lows.
- Mobile Payments $IPAY posted bearish reversal week.
That's it for this week's highlights!
