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, with 85% of our list closing lower with a median return of -1.95%.
- This week, US 10-Year Yield $TNX was the winner, closing with a massive 16.24% gain.
- The biggest loser was Copper $HG, with a weekly loss of -6.35%.
- There was an 11% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 19%.
- 13% of our macro list made fresh 4-week highs, 11% made new 13-week highs, and 6% made new 52-week highs.
- Meanwhile, 64% of our list made fresh 4-week lows, 62% made new 13-week lows, and 34% made new 52-week lows.
- The median asset in our macro universe is 10.6% below its 52-week highs (9.2% last week).
- 55% of our macro universe closed lower than their prior week's low.
- Meanwhile, only 13% of our list closed higher than their prior week's high.
- 72% of our list is in a bearish momentum regime (a 2% drop from last week).
- US 10-Year Note $TU posted bearish reversal week.
International Universe:
- This week, our International Equities universe was negative again as 65% of our list closed lower with a median return of -0.96%.
- This week, Poland $EPOL was the leader with a 6.01% gain.
- This week, China Large-Cap $FXI was the biggest loser, dropping a massive -11.83%.
- 43% 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 13%.
- The median asset in our international universe is 17.5% below its 52-week high (15.6% last week).
- 79% of our list is in a bearish momentum regime (no change from last week).
- Only 5% of our international list made fresh 4-week highs, 5% made new 13-week highs, and 2% made new 52-week highs.
- Meanwhile, 49% of our international list made fresh 4-week lows, 41% made new 13-week lows, and 29% made new 52-week lows.
- New Zealand $ENZL posted a bearish reversal week.
US Sector Universe:
- Our sector universe had another negative week as 85% of our list closed lower with a median return of -2.13%.
- Mid Cap Energy was the winner this week, closing with a 3.85% gain.
- The biggest loser was Small Cap Consumer Staples $PSCC, with a weekly loss of -6.91%.
- Only 13% of our sector list made fresh 4-week highs, 9% made new 13-week highs, and 9% made new 52-week highs.
- Meanwhile, 57% of our sector list made fresh 4-week lows, 49% made new 13-week lows, and 19% made new 52-week lows.
- There was a 4% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 19%.
- 47% of our sector universe closed lower than their prior week's low.
- 77% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our macro universe is 11% below its 52-week highs.
US Industry Universe:
- Our Industry universe was down again this week, with 76% closing lower with a median return of -2.64%.
- This week's biggest winner again was Uranium $URA which gained a massive 10.18%.
- This week's biggest loser was Social Media $SOCL, dropping -6.46%.
- The percentage of our list in bullish momentum regimes had a 2% drop this week and has a current reading of 31%.
- 20% of the assets on our industry list are within 5% of their 52-week highs (a 4% drop from last week).
- The median asset in our industry universe is 17.5% below its 52-week highs (16.1% last week).
- 49% of our industry universe closed lower than last week's low.
- Only 13% of our industry list made fresh 4-week highs, 9% made new 13-week highs, and 4% made new 52-week highs.
- Meanwhile, 56% of our industry list made fresh 4-week lows, 44% made new 13-week lows, and 24% made new 52-week lows.
- Food & Beverage $PBJ posted bearish reversal week.
That's it for this week's highlights!
