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 positive as 83% of our list closed higher with a median return of 1.79%.
- High Beta $SPHB was the winner, closing with a 6.14% gain.
- The biggest loser was the Lumber $LB, with a weekly loss of -14.18 %.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 4%.
- 45% of our macro list made fresh 4-week highs.
- Meanwhile, Only 13% of our list made fresh 4-week lows.
- The median asset in our macro universe is 17.7% below its 52-week highs (19.8% last week).
- 66% of our macro universe closed higher than their prior week's high.
- Conversely, only 11% 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).
- 10-Year Note $TY and 3-7 Year Treasuries $IEI both posted a bullish reversal week.
- 10-Year Yield $TNX posted a bearish reversal week.
International Universe:
- Our International Equities universe was positive this week as 95% of our list closed higher with a median return of 2.94%.
- This week, Peru $EPU was the leader with an 8.09% gain.
- Pakistan $PAK was the biggest loser again this week, dropping by -13.09%.
- 73% 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 24% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 63%.
- The median asset in our international universe is 23.8% below its 52-week high (26% last week).
- 100% of our list is in a bearish momentum regime (no change from last week).
- 32% of our international list made fresh 4-week highs.
- On the other hand, only 5% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was positive as 94% of our list closed higher with a median return of 3.66%.
- Mid Cap Energy was the leader this week with a 6.92% gain.
- Equal Weight Utilities $RYU was the biggest loser, dropping by -0.76%.
- Only 68% of our sector list made fresh 4-week highs.
- On the other hand, only 2% of our list made fresh 4-week lows.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- 83% 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.
- 94% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 18.7% below its 52-week highs (21.2% last week).
US Industry Universe:
- Our Industry universe was green this week as 89% closed higher with a median return of 3.83%.
- This week's biggest winner was Media $PBS which gained 6.84%.
- The biggest loser was Biotech $XBI, dropping by -2.05%.
- 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 30% last week).
- 69% 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.
- 42% of our industry list made fresh 4-week highs.
- On the other hand, only 2% of our list made fresh 4-week lows.
That's it for this week's highlights!
