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 bounced back this week as 91% of our list closed higher with a median return of 3.34%.
- S&P 500 Quality $SPHQ was the winner this week, closing with a 7.65% gain.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -12.61%.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 66% of our macro list made fresh 4-week highs.
- Meanwhile, only 6% of our list made fresh 4-week lows.
- The median asset in our macro universe is 12.2% below its 52-week highs (15.6% last week).
- 79% of our macro universe closed higher than their prior week's high.
- On the flip side, only 6% 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).
- High Beta $SPHB posted a bullish reversal week.
International Universe:
- Our International Equities universe was positive this week as 75% of our list closed higher with a median return of 1.22%.
- This week, Chile $ECH was the leader with a 9.41% gain.
- Egypt $EGPT was the biggest loser, dropping by -4.15%.
- 83% of our international universe closed higher than their prior week's high.
- Meanwhile, only 3% of our list closed lower than their prior week's low.
- There was a 6% gain in the percentage of assets on our list within 5% of their 52-week highs.
- The median asset in our international universe is 16.1% below its 52-week high (19.8% last week).
- 97% of our list is in a bearish momentum regime (a 1% improvement from last week).
- 57% of our international list made fresh 4-week highs.
- On the other hand, only 3% of our list made fresh 4-week lows.
- Asia 50 $AIA, BRICs $BKF, Malaysia $EWM & Large Cap China $FXI all posted bullish reversal weeks.
US Sector Universe:
- Our sector universe was perfect this week as 100% of our list closed higher with a median return of 6.30%.
- The biggest winner was Small Cap Energy $PSCE, with a weekly gain of 13.22%.
- 74% of our sector list made fresh 4-week highs.
- Meanwhile, 0% of our list made fresh 4-week lows.
- There was a 15% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 21%.
- 89% of our sector universe closed higher than their prior week's high.
- On the flip side, 0% of our list closed lower than their prior week's low.
- 74% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our macro universe is 12.7% below its 52-week highs (17.5% last week).
- Equal Weight Consumer Discretionary $RCD, Large Cap Consumer Discretionary $XLY, Large Cap Communication Services $XLC, Small Cap Tech $PSCT, Small Cap Industrials $PSCI, Small Cap Health Care $PSCH, Mid Cap Cyclicals, and Mid Cap Technology all posted bullish reversal weeks.
US Industry Universe:
- Our Industry universe was positive this week as 98% closed higher with a median return of 6.09%.
- This week's biggest winner was Natural Gas $FCG which gained 15.81%.
- The only loser was Social Media $SOCL, dropping by -0.14%.
- The percentage of our list in bearish momentum regimes did not change this week as the reading remains 80%.
- 13% of the assets on our industry list are within 5% of their 52-week highs (an 11% gain from last week).
- The median asset in our industry universe is 20.2% below its 52-week highs (compared to 24.0% last week).
- 84% of our industry universe closed higher than their prior week's high.
- Meanwhile, 0% of our list closed lower than their prior week's low.
- 60% of our industry list made fresh 4-week highs.
- 2% of our list made fresh 4-week lows.
That's it for this week's highlights!