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 87% of our list closed higher with a median return of 3.06%.
- Silver $SI was this week's winner, closing with an 8.49% gain.
- The biggest loser was Lumber $LB, with a loss of -9.94 %.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- 74% of our macro list made fresh 4-week highs.
- Meanwhile, only 9% of our list made fresh 4-week lows.
- The median asset in our macro universe is 14.4% below its 52-week highs (17.7% last week).
- 81% of our macro universe closed higher than their prior week's high.
- Conversely, only 9% of our list closed lower than their prior week's low.
- 87% of our list remains in a bearish momentum regime (no change from last week).
International Universe:
- Our International Equities universe had a strong week as 92% of our list closed higher with a median return of 3.35%.
- Argentina $ARGT was the leader with a massive 12.68% gain.
- Large Cap China $FXI was the biggest loser, dropping by -2.94%.
- 87% of our international universe closed higher than their prior week's high.
- Meanwhile, only 6% of our list closed lower than their prior week's low.
- There was a 41% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 22%.
- The median asset in our international universe is 21.5% below its 52-week high (23.8% last week).
- 100% of our list is in a bearish momentum regime (no change from last week).
- 76% of our international list made fresh 4-week highs.
- On the flip side, only 5% of our list made fresh 4-week lows.
- Poland $EPOL, Mexico $EWW, and Colombia $GXG all posted bullish reversal weeks.
US Sector Universe:
- This week, our sector universe was positive as 100% of our list closed higher with a median return of 4.63%.
- Small Cap Energy $PSCE was the leader with a 17.77% gain.
- 98% of our sector list made fresh 4-week highs.
- On the other hand, 0% of our list made fresh 4-week lows.
- There was an 11% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 96% 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.
- 83% of our list is in a bearish momentum regime (an 11% decrease from last week).
- The median asset in our sector universe is 14.1% below its 52-week highs (18.7% last week).
US Industry Universe:
- There was also a lot of green in our Industry universe this week as 93% of ETFs closed higher with a median return of 3.81%.
- This week's biggest winner was Solar $TAN, which gained 18.78%.
- The biggest loser was Cyber Security $HACK, dropping by -1.01%.
- 76% of our list is in a bearish momentum regime (an 8% drop from last week).
- 2% of the assets on our industry list are within 5% of their 52-week highs (a 2% gain from last week).
- The median asset in our industry universe is 22.4% below its 52-week highs (compared to 27.6% last week).
- 73% 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.
- 78% of our industry list made fresh 4-week highs.
- On the other hand, 0% of our list made fresh 4-week lows.
That's it for this week's highlights!
