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 mixed this week as 51% of our list closed lower with a median return of -0.14%.
- The US 10-Year Yield $TNX was this week's biggest gainer, rallying over 20 basis points.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -7.72%.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- 11% of our macro list made fresh 4-week highs.
- Meanwhile, 30% of our list made fresh 4-week lows, and 26% made fresh 13-week lows.
- The median asset in our macro universe is 18.9% below its 52-week highs (19.7% last week).
- Only 4% of our macro universe closed higher than their prior week's high.
- Conversely, 19% of our list closed lower than their prior week's low.
- 87% of our list is in a bearish momentum regime (a 5% increase from last week).
International Universe:
- Our international equities universe was negative again this week as 65% of our list closed lower with a median return of -0.50%.
- This week, New Zealand $ENZL was the leader with a 2.55% gain.
- Colombia $GXG was the biggest loser again this week, dropping by -4.46%.
- Only 2% 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 a 3% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 81%.
- The median asset in our international universe is 24.5% below its 52-week high (25% last week).
- 100% of our list is in a bearish momentum regime (a 2% increase from last week).
- Only 2% of our international list made fresh 4-week highs.
- On the other hand, 43% of our list made fresh 4-week lows, 41% made fresh 13-week lows, and 33% made fresh 52-week lows.
- India $INDY posted a bullish reversal week.
US Sector Universe:
- Our sector universe was slightly negative, with 51% of our list closing lower with a median return of -0.22%.
- Large Cap Consumer Discretionary $XLY was the leader with a 4.54% gain.
- Mid Cap Utilities was the biggest loser, dropping by -3.54%.
- Only 9% of our sector list made fresh 4-week highs.
- On the other hand, 17% of our list made fresh 4-week lows, and 17% made fresh 13-week lows.
- There was a 2% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- 9% of our sector universe closed higher than their prior week's high.
- On the flip side, only 2% of our list closed lower than their prior week's low.
- 94% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 20.6% below its 52-week highs (20.9% last week).
- Large Cap Health Care $XLV posted a bullish reversal week.
US Industry Universe:
- Our Industry universe was green this week as 60% closed higher with a median return of 0.52%.
- Biotech $XBI was the biggest winner for the second week in a row, gaining 10.31%.
- This week's biggest loser was Gold Miners $GDX, dropping by -3.91%.
- 84% of our list is in a bearish momentum regime (no change 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 27.6% below its 52-week highs (compared to 28.8% last week).
- 18% of our industry universe closed higher than their prior week's high.
- Meanwhile, only 2% of our list closed lower than their prior week's low.
- 22% of our industry list made fresh 4-week highs.
- 22% of our list also made fresh 4-week lows and fresh 13-week lows.
- Healthcare Providers $IHF posted a bullish reversal week.
That's it for this week's highlights!
