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:
- This week, our macro universe continued lower again as 89% of our list closed in the red with a median return of -4.69%.
- The Volatility Index $VIX was the winner, closing with a 12.18% gain.
- The biggest loser was Dow Jones Utilities $DJU, with a weekly loss of -9.46%.
- There was a 7% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 4%.
- 9% of our macro list made fresh 4-week highs.
- Meanwhile, 89% of our list made fresh 4-week lows.
- The median asset in our macro universe is 19.2% below its 52-week highs (17.3% last week).
- Only 9% of our macro universe closed higher than their prior week's high.
- Conversely, 85% of our list closed lower than their prior week's low.
- 81% of our list is in a bearish momentum regime (a 9% increase from last week).
- Crude Oil $CL posted a bearish reversal week.
International Universe:
- Our International Equities universe was negative this week as 94% of our list closed lower with a median return of -5.80%.
- This week, China $ASHR was the leader with a 3.33% gain.
- Brazil $EWZ was the biggest loser again this week, dropping by -8.55%.
- Only 2% of our international universe closed higher than their prior week's high.
- Meanwhile, 98% 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 – still at 0%.
- The median asset in our international universe is 24.9% below its 52-week high (22.4% last week).
- 98% of our list is in a bearish momentum regime (a 1% gain from last week).
- Only 2% of our international list made fresh 4-week highs.
- On the other hand, 94% of our list made new 4-week lows, 87% made new 13-week lows, and 73% made new 52-week lows.
- China $ASHR posted a bullish reversal week.
US Sector Universe:
- Our sector universe was negative this week as 100% of our list closed lower with a median return of -6.47%.
- Small Cap Energy $PSCE was the biggest loser, dropping by a massive -21.17%.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, 100% of our list made fresh 4-week lows, 100% made fresh 13-week lows, and 79% made fresh 52-week lows.
- There was a 6% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- 0% of our sector universe closed higher than their prior week's high.
- On the flip side, 100% of our list closed lower than their prior week's low.
- 91% of our list is in a bearish momentum regime (a 17% increase from last week).
- The median asset in our sector universe is 23.8% below its 52-week highs (17.3% last week).
US Industry Universe:
- Our Industry universe was red again this week as 98% of ETFs closed lower with a median return of -5.73%.
- This week's only winner was Biotech $XBI, which gained 0.87%.
- This week's biggest loser was Natural Gas $FCG, dropping by a massive -20.69%.
- 82% of our list is in a bearish momentum regime (a 2% increase from last week).
- 0% of the assets on our industry list are within 5% of their 52-week highs (a 9% drop from last week).
- The median asset in our industry universe is 29.1% below its 52-week highs (compared to 24.7% last week).
- 0% of our industry universe closed higher than their prior week's high.
- Meanwhile, 96% of our list closed lower than their prior week's low.
- 0% of our international list made fresh 4-week highs.
- On the other hand, 93% of our list made fresh 4-week lows, 84% made fresh 13-week lows, and 64% made fresh 52-week lows.
That's it for this week's highlights!
