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 mixed this week as 53% of our list closed higher with a median return of just 0.05%.
- The Dow Jones Utilities Average $DJU was the winner on the week, closing with a 4% gain.
- The biggest loser was Crude Oil $CL, with a weekly loss of -12.84%.
- There was an 11% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 23%.
- 36% of our macro list made fresh 4-week highs, 4% made new 13-week highs, and 4% made new 52-week highs.
- Meanwhile, 19% of our list made fresh 4-week lows, 11% made new 13-week lows, and 9% made new 52-week lows.
- The median asset in our macro universe is 7.3% below its 52-week highs (6.2% last week).
- 34% of our macro universe closed higher than their prior week's high.
- Meanwhile, only 19% of our list closed lower than their prior week's low.
- 70% of our list is in a bearish momentum regime (a 2% drop from last week).
- The Dow Jones Transportation Average $DJT posted a bearish reversal week.
International Universe:
- Our International Equities universe was positive this week as 79% of our list closed higher with a median return of 1.08%.
- This week, Greece $GREK was the leader with a 5.20% gain.
- Meanwhile, Japan $EWJ was the biggest loser, dropping -1.29%.
- 54% of our international universe closed higher than their prior week's high.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 24%.
- The median asset in our international universe is 10.8% below its 52-week high (12.1% last week).
- 73% of our list is in a bearish momentum regime (a 2% drop from last week).
- 57% of our international list made fresh 4-week highs, 21% made new 13-week highs, and 10% made new 52-week highs.
- Meanwhile, only 2% of our international list made fresh 4-week lows.
- Finland $EFNL and Developed Markets $VEA both posted bullish reversal weeks.
- Japan $EWJ posted a bearish reversal week.
US Sector Universe:
- Our Sector universe was slightly positive as 55% of our list closed higher with a median return of 0.14%.
- This week, Large Cap Real Estate $XLRE was the winner, closing with a 4.56% gain.
- The biggest loser was Large Cap Financials $XLF, with a weekly loss of -3.29%.
- 53% of our sector list made fresh 4-week highs, 11% made new 13-week highs, and 11% made new 52-week highs.
- Meanwhile, 2% of our sector list made fresh 4-week lows.
- There was a 9% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 47%.
- 45% of our sector universe closed higher than their prior week's high.
- 70% of our list is in a bearish momentum regime (a 4% drop from last week).
- The median asset in our macro universe is 6.4% below its 52-week highs (6.0% last week).
- Equal Weight Financials $RYF and Large Cap Financials $XLF both posted bearish reversal weeks.
US Industry Universe:
- Our Industry universe was in the green this week as 58% of ETFs closed higher with a median return of 0.61%.
- This week's biggest winner was Rare Earth/Strategic Metals $REMX which gained a massive 4.43%.
- This week's biggest loser was Regional Banks $KRE, dropping by -4.94%.
- The percentage of our list in bullish momentum regimes had no change this week and has a current reading of 33%.
- 33% of the assets on our industry list are within 5% of their 52-week highs (a 2% gain from last week).
- The median asset in our industry universe is 13.4% below its 52-week highs (12.7% last week).
- 40% of our industry universe closed higher than last week's high.
- 53% of our industry list made fresh 4-week highs, 11% made new 13-week highs, and 9% made new 52-week highs.
- Meanwhile, only 9% of our industry list made fresh 4-week lows.
- Gold Miners $GDX, Biotechnology $IBB $XBI, Mobile Payments $IPAY, and Pharmaceuticals $XPH all posted bullish reversal weeks.
- US Transportation $IYT and Retail $XRT both posted bearish reversal weeks.
That's it for this week's highlights!
