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 was negative as 79% of our list closed lower with a median return of -1.14%.
- Lumber $LB was the winner, closing with a 3.49% gain.
- The biggest loser was Copper $HG, with a weekly loss of -8.18%.
- There was a 4% drop in the percentage of assets on our list within 5% of 52-week highs – currently at 2%.
- Only 9% of our macro list made fresh 4-week highs.
- Meanwhile, 38% of our list made fresh 4-week lows, and 34% made fresh 13-week lows.
- The median asset in our macro universe is 19.8% below its 52-week high (18.9% last week).
- Only 6% of our macro universe closed higher than their prior week's high.
- Conversely, 17% of our list closed lower than their prior week's low.
- 87% of our list is in a bearish momentum regime (no change from last week).
International Universe:
- Our International Equities universe was negative again this week as 92% of our list closed lower with a median return of -2.13%.
- Nigeria $NGE was the leader with a 2.47% gain.
- Large Cap China $FXI was the biggest loser this week, dropping by -7.70%.
- Only 5% of our international universe closed higher than their prior week's high.
- Meanwhile, 32% of our list closed lower than their prior week's low.
- There was a 6% increase in the percentage of assets on our list within 5% of 52-week lows – currently at 87%.
- The median asset in our international universe is 26% below its 52-week high (24.5% last week).
- 100% of our list is in a bearish momentum regime (no change from last week).
- 0% of our international list made fresh 4-week highs.
- On the flip side, 68% of our list made fresh 4-week lows, 63% made fresh 13-week lows, and 54% made fresh 52-week lows.
US Sector Universe:
- Our sector universe was negative again this week as 81% of our list closed lower with a median return of -0.72%.
- Mid Cap Utilities led with a 1.23% gain.
- Small Cap Energy $PSCE was the biggest loser, dropping by -4.47%.
- Only 4% of our sector list made fresh 4-week highs.
- On the other hand, 17% of our list made fresh 4-week lows and 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%.
- Only 2% of our sector universe closed higher than their prior week's high.
- On the flip side, 4% 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 21.2% below its 52-week highs (20.6% last week).
US Industry Universe:
- Our Industry universe was red this week as 89% of ETFs closed lower with a median return of -1.85%.
- This week's big winner was Semiconductors $SOXX, which gained 3.01%.
- The biggest loser was Solar $TAN, dropping by 9.09%.
- 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 30% below its 52-week highs (compared to 27.6% last week).
- Only 7% of our industry universe closed higher than their prior week's high.
- Meanwhile, 11% of our list closed lower than their prior week's low.
- Only 4% of our industry list made fresh 4-week highs.
- On the other hand, 33% of our list made fresh 4-week lows, and 29% made fresh 13-week lows.
That's it for this week's highlights!
