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 again this week, as 66% of our list closed lower with a median return of -0.63%.
- This week, crude Oil $CL was the winner, closing with an 8.84% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -6.41%.
- There was a 5% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 23%.
- 15% of our macro list made fresh 4-week highs, 9% made new 13-week highs, and 9% made new 52-week highs.
- Meanwhile, 60% of our list made fresh 4-week lows, 21% made new 13-week lows, and 19% made new 52-week lows.
- The median asset in our macro universe is 9.3% below its 52-week highs (9.3% last week).
- 15% of our macro universe closed higher than their prior week's high.
- Meanwhile, 38% of our list closed lower than their prior week's low.
- 68% of our list is in a bearish momentum regime (a 2% drop from last week).
- Crude Oil $CL posted a bullish reversal week.
International Universe:
- Our International Equities universe was negative again this week as 81% of our list closed lower with a median return of -1.19%.
- This week, Pakistan $PAK was the leader with a 6.58% gain.
- This week, South Africa $EZA was the biggest loser, dropping a massive -4.03%.
- 60% of our international universe closed lower than their prior week's low.
- There was a 5% drop 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 12.8% below its 52-week high (11.7% last week).
- 71% of our list is in a bearish momentum regime (no change from last week).
- 8% of our international list made fresh 4-week highs, 8% made new 13-week highs, and 2% made new 52-week highs.
- Meanwhile, only 54% of our international list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was slightly positive as 51% of our list closed higher with a median return of 0.08%.
- Small Cap Energy $PSCE was the winner this week, closing with a 4.70% gain.
- The biggest loser was Large Cap Technology $XLK, with a weekly loss of -3.79%.
- 15% of our sector list made fresh 4-week highs, 13% made new 13-week highs, and 13% made new 52-week highs.
- Meanwhile, 30% of our sector list made fresh 4-week lows.
- There was a 4% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 34%.
- Only 17% of our sector universe closed lower than their prior week's low.
- 68% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our macro universe is 8.7% below its 52-week highs (7.7% last week).
US Industry Universe:
- Our Industry universe was slightly up this week, with 51% closing higher with a median return of 0.06%.
- This week's biggest winner again was Global Jets $JETS which gained a massive 8.04%.
- This week's biggest loser was Medical Devices $IHI, dropping by -4.12%.
- The percentage of our list in bullish momentum regimes had no change this week and has a current reading of 36%.
- 31% of the assets on our industry list are within 5% of their 52-week highs (no change from last week).
- The median asset in our industry universe is 15.9% below its 52-week highs (15.9% last week).
- 33% of our industry universe closed lower than last week's low.
- 24% of our industry list made fresh 4-week highs, 22% made new 13-week highs, and 18% made new 52-week highs.
- Meanwhile, 38% of our industry list made fresh 4-week lows.
That's it for this week's highlights!
