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, with 55% of our list closing lower with a median return of -0.46%.
- Silver $SI was the winner this week, closing with a 3.20% gain.
- The biggest loser was Lumber $LB, with a massive weekly loss of -27.47%.
- There was a 2% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 9%.
- Only 15% of our macro list made fresh 4-week highs.
- Meanwhile, 47% of our list made fresh 4-week lows, 43% made new 13-week lows, and 38% made new 52-week lows.
- The median asset in our macro universe is 15.6% below its 52-week highs (15.2% last week).
- 23% of our macro universe closed higher than their prior week's high.
- Meanwhile, only 11% 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).
International Universe:
- Our International Equities universe was positive this week as 76% of our list closed higher with a median return of 1.20%.
- Chile $ECH was the leader with a 7.02% gain this week.
- Pakistan $PAK was the biggest loser, dropping by -5.38%.
- 60% of our international universe closed higher than their prior week's high.
- Meanwhile, only 6% of our list closed lower than their prior week's low.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs which remains at 0%.
- The median asset in our international universe is 19.8% below its 52-week high (20.4% last week).
- 98% of our list is in a bearish momentum regime (a 3% gain from last week).
- Only 5% of our international list made fresh 4-week highs.
- Meanwhile, 22% of our list made fresh 4-week lows, 14% made new 13-week lows, and 11% made new 52-week lows.
US Sector Universe:
- This week, our sector universe was negative as 70% of our list closed lower with a median return of -1.40%.
- The biggest winner was Small Cap Energy $PSCE, with a weekly gain of 3.38%.
- The biggest loser was Large Cap Consumer Staples $XLP, with a weekly loss of -8.12%.
- 70% of our list made fresh 4-week lows, 64% made new 13-week lows, and 51% made new 52-week lows.
- There was a 5% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- 15% of our sector universe closed higher than their prior week's high.
- Meanwhile, 15% of our list closed lower than their prior week's low.
- 74% of our list is in a bearish momentum regime (a 4% gain from last week).
- The median asset in our macro universe is 17.5% below its 52-week highs (15.7% last week).
- Equal Weight Consumer Staples $RHS, Large Cap Consumer Staples $XLP, Large Cap Industrial $XLI & Mid Cap Consumer Staples all posted bearish reversal weeks.
US Industry Universe:
- Our Industry universe was negative this week, with 53% closing lower with a median return of -0.35%.
- This week's biggest winner again was Solar $TAN which gained 8.88%.
- This week's biggest loser was Retail $XRT, dropping by -9.44%.
- The percentage of our list in bearish momentum regimes had a 2% gain this week and has a current reading of 80%.
- 2% 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 24% below its 52-week highs (24.4% last week).
- 29% of our industry universe closed higher than their prior week's high.
- Meanwhile, only 7% of our list closed lower than their prior week's low.
- Only 7% of our industry list made fresh 4-week highs.
- 53% of our list made fresh 4-week lows, 53% made new 13-week lows, and 44% made new 52-week lows.
That's it for this week's highlights!
