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 slightly negative as 62% of our list closed lower with a median return of -0.27%.
- The US 10-Year Yield $TNX was the big winner, rising by about 20bps.
- The biggest loser was Oil $CL, with a weekly loss of -9.74%.
- There was a 4% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
- 30% 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 13.8% below its 52-week highs (14.4% last week).
- 26% of our macro universe closed higher than their prior week's high.
- Conversely, only 19% of our list closed lower than their prior week's low.
- 85% of our list is still in a bearish momentum regime (a 2% drop from last week).
- The 10-Year Note $TY posted a bearish reversal week.
International Universe:
- Our International Equities universe was mixed this week as 54% of our list closed lower with a median return of -0.08%.
- Pakistan $PAK was the leader with a massive 11.10% weekly gain.
- Denmark $EDEN was the biggest loser this week, dropping by -3.47%.
- 33% of our international universe closed higher than their prior week's high.
- Meanwhile, only 2% of our list closed lower than their prior week's low.
- There was a 3% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 19%.
- The median asset in our international universe is 21.6% below its 52-week high (21.5% last week).
- 95% of our list is in a bearish momentum regime (a 5% drop from last week).
- 40% of our international list made fresh 4-week highs.
- On the other hand, only 8% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was mixed as 53% of our list closed higher with a median return of 0.03%.
- This week, Small Cap Health Care $PSCH was the leader with a 2.60% gain.
- Small Cap Energy $PSCE was the biggest loser with a -8.25% drop.
- Only 53% of our sector list made fresh 4-week highs.
- On the other hand, 0% 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 11%.
- 36% 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.
- 70% of our list is in a bearish momentum regime (a 13% improvement from last week).
- The median asset in our sector universe is 14.9% below its 52-week highs (14.1% last week).
US Industry Universe:
- Our Industry universe was green this week as 71% closed higher with a median return of 1.04%.
- This week's biggest winner was Biotech $XBI, which gained 13.77%.
- This week's biggest loser was Natural Gas $FCG, dropping by -7.27%.
- 71% of our list is in a bearish momentum regime (a 5% improvement from last week).
- Only 2% 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 22.7% below its 52-week highs (compared to 22.4% last week).
- 62% 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.
- 67% 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!
