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 81% of our list closed lower with a median return of -1.87%.
- 20+ Year Treasuries $TLT were the winners this week, closing with a 2.03% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -8.01%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- Only 4% of our macro list made fresh 4-week highs.
- Meanwhile, 66% of our list made fresh 4-week lows, 62% made new 13-week lows, and 53% made new 52-week lows.
- The median asset in our macro universe is 15.2% below its 52-week highs (13.3% last week).
- Only 6% of our macro universe closed higher than their prior week's high.
- Meanwhile, 53% of our list closed lower than their prior week's low.
- 72% of our list is in a bearish momentum regime (a 4% increase from last week).
International Universe:
- Our International Equities universe was negative again this week as 75% of our list closed lower with a median return of -1.44%.
- This week, Egypt $EGPT was the leader with a 2.29% gain.
- Vietnam $VNM was the biggest loser, dropping by -8.36%.
- 59% 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 0%.
- The median asset in our international universe is 20.4% below its 52-week high (17.5% last week).
- 95% of our list is in a bearish momentum regime (a 9% increase from last week).
- Only 2% of our international list made fresh 4-week highs.
- Meanwhile, 73% of our list made fresh 4-week lows, 59% made new 13-week lows, and 48% made new 52-week lows.
US Sector Universe:
- Our sector universe was negative this week as 87% of our list closed lower with a median return of -1.87%.
- The biggest winner was Small Cap Consumer Staples $PSCC, with a weekly gain of 3.30%.
- The biggest loser was Small Cap Energy $PSCE, with a weekly loss of -6.59%.
- 79% of our list made fresh 4-week lows, 66% made new 13-week lows, and 55% made new 52-week lows.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 62% of our sector universe closed lower than their prior week's low.
- 70% of our list is in a bearish momentum regime (a 2% gain from last week).
- The median asset in our macro universe is 15.7% below its 52-week highs. (12.9% last week).
US Industry Universe:
- Our Industry universe was negative this week as 93% closed lower with a median return of -2.18%.
- This week's biggest winner again was Pharmaceuticals $XPH which gained 1.41%.
- This week's biggest loser was Gold Miners $GDX, dropping by -9.81%.
- The percentage of our list in bearish momentum regimes had a 9% gain this week and has a current reading of 78%.
- 2% of the assets on our industry list are within 5% of their 52-week highs (a 2% drop from last week).
- The median asset in our industry universe is 24.4% below its 52-week highs (22.1% last week).
- 62% of our industry universe closed lower than last week's low.
- 80% of our list made fresh 4-week lows, 67% made new 13-week lows, and 49% made new 52-week lows.
That's it for this week's highlights!
