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:
- This week, our macro universe was green as 70% of our list closed higher with a median return of 2.67%.
- High Beta $SPHB was the winner this week, closing with a massive 8.93% gain.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -22.37%.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 21%.
- 38% of our macro list made fresh 4-week highs, 9% made new 13-week highs, and 2% made new 52-week highs.
- Meanwhile, 17% of our list made fresh 4-week lows, 13% made new 13-week lows, and 13% made new 52-week lows.
- The median asset in our macro universe is 7.2% below its 52-week highs (10.6% last week).
- 55% of our macro universe closed higher than their prior week's high.
- Meanwhile, only 23% of our list closed lower than their prior week's low.
- 72% of our list is in a bearish momentum regime (no change from last week).
- NASDAQ Composite $COMPX, NASDAQ 100 $QQQ, Russell 2000 $IWM, Micro Caps $IWC, S&P 500 Value $VLUE, Emerging Markets $EEM and High Yield $HYG all posted bullish reversal weeks.
International Universe:
- Our International Equities universe was positive as 95% of our list closed higher with a median return of 6.18%.
- This week, iShares China Large Cap $FXI was the leader with a 14.10% gain.
- Pakistan $PAK was the biggest loser, dropping a massive -1.41%.
- 79% of our international universe closed higher than their prior week's high.
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
- The median asset in our international universe is 12.6% below its 52-week high (17.5% last week).
- 79% of our list is in a bearish momentum regime (no change from last week).
- 33% of our international list made fresh 4-week highs, 19% made new 13-week highs, and 6% made new 52-week highs.
- Meanwhile, only 3% of our international list made fresh 4-week lows.
- Africa $AFK, Asia $AIA, Argentina $ARGT, BRICs $BKF, Emerging Markets $EEM, Canada $EWC, Hong Kong $EWH, South Korea $EWY, Brazil $EWZ, South Africa $EZA, Large Cap China $FXI, and Latin America $ILF all posted bullish reversal weeks.
US Sector Universe:
- Our sector universe had a positive week as 91% of our list closed higher with a median return of 5.00%.
- This week, the Large Cap Consumer Discretionary $XLY was the winner, closing with a 9.09% gain.
- The biggest loser was Small Cap Energy $PSCE, with a weekly loss of -3.91%.
- 62% of our sector list made fresh 4-week highs, 4% made new 13-week highs, and 4% made new 52-week highs.
- Meanwhile, 0% of our sector list made fresh 4-week lows.
- There was a 15% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 34%.
- 72% of our sector universe closed higher than their prior week's high.
- 77% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our macro universe is 7.0% below its 52-week highs (11.0% last week).
- Large Cap Telecom $XTL, Mid Cap Health, Mid Cap Tech and Small Cap Health Care $PSCH all posted bullish reversal weeks.
US Industry Universe:
- Our Industry universe was green this week as 89% of ETFs closed higher with a median return of 5.90%.
- This week's biggest winner again was Social Media $SOCL which gained a massive 14.60%.
- This week's biggest loser was Oil Services $OIH, dropping -6.24%.
- The percentage of our list in bullish momentum regimes had no change this week and has a current reading of 31%.
- 24% of the assets on our industry list are within 5% of their 52-week highs (a 4% gain from last week).
- The median asset in our industry universe is 12.7% below its 52-week highs (17.5% last week).
- 62% of our industry universe closed higher than last week's high.
- 47% of our industry list made fresh 4-week highs, 9% made new 13-week highs, and 4% made new 52-week highs.
- Meanwhile, only 2% of our industry list made fresh 4-week lows.
- Future Vehicles & Technology $CARZ, Internet $FDN, Tech-Multimedia Networking $IGN, Expanded Tech-Software $IGV, Lithium & Battery Tech $LIT, Rare Earth/Strategic Metals $REMX, Cloud Computing $SKYY, Social Media $SOCL, Semiconductors $SOXX, Biotech $XBI, and Pharmaceuticals $XPH all posted bullish reversal weeks.
That's it for this week's highlights!
