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 rebounded as 74% of our list closed higher with a median return of 1.65%.
- Russell 1000 Growth $IWF was the winner, closing with an 8.15% gain.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -12.53%.
- There was a 2% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
- 0% of our macro list made fresh 4-week highs.
- Meanwhile, 17% of our list made fresh 4-week lows.
- The median asset in our macro universe is 19% below its 52-week highs (19.2% last week).
- 40% of our macro universe closed higher than their prior week's high.
- Conversely, only 13% of our list closed lower than their prior week's low.
- 81% 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 70% of our list closed higher with a median return of 2.30%.
- This week, S&P 500 $SPY was the leader with a 6.62% gain.
- Colombia $GXG was the biggest loser again this week, dropping by -11.17%.
- 30% of our international universe closed higher than their prior week's high.
- Meanwhile, 22% 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 – currently at 0%.
- The median asset in our international universe is 23.2% below its 52-week high (24.9% last week).
- 98% of our list is in a bearish momentum regime (no change from last week).
- Only 5% of our international list made fresh 4-week highs.
- On the other hand, 30% of our list made fresh 4-week lows, 30% made fresh 13-week lows, and 19% made fresh 52-week lows.
- Pakistan $PAK posted a bearish reversal week.
US Sector Universe:
- This week, our sector universe was positive, as 91% of our list closed higher with a median return of 5.42%.
- Mid Cap Health Care was the leader with an 8.18% gain.
- Mid Cap Energy was the biggest loser, dropping by -3.35%.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, only 9% of our list made fresh 4-week lows, and 9% made fresh 13-week lows.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- 55% of our sector universe closed higher than their prior week's high.
- On the flip side, only 9% of our list closed lower than their previous week's low.
- 94% of our list is in a bearish momentum regime (a 3% gain from last week).
- The median asset in our macro universe is 20.6% below its 52-week highs (23.8% last week).
US Industry Universe:
- Our Industry universe was finally green this week as 78% closed higher with a median return of 4.80%.
- This week's biggest winner again was Biotech $XBI, which gained 13.98%.
- The biggest loser was Copper Miners $COPX, dropping by -6.86%.
- 84% of our list is in a bearish momentum regime (a 2% gain from last week).
- 0% 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 28.4% below its 52-week highs (compared to 29.1% last week).
- 53% of our industry universe closed higher than their prior week's high.
- Meanwhile, only 16% of our list closed lower than their prior week's low.
- 11% of our international list made fresh 4-week highs.
- On the other hand, 22% of our list made fresh 4-week lows, and 20% made fresh 13-week lows.
That's it for this week's highlights!
