[PLUS] Weekly Momentum Report & Takeaways

Ian Culley
August 15, 2022

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 91% of our list closed higher with a median return of 2.89%.
  • Lumber $LB was the winner, closing with a massive 22.85% gain.
  • The biggest loser was the Volatility Index $VIX, with a weekly loss of -7.66%.
  • There was a 7% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 9%.
  • 74% of our macro list made fresh 4-week highs, and 32% of our list made fresh 13-week highs.
  • Meanwhile, 6% of our list made fresh 4-week lows.
  • The median asset in our macro universe is 11.8% below its 52-week highs (13.8% last week).
  • 77% of our macro universe closed higher than their prior week's high.
  • Conversely, only 4% of our list closed lower than their prior week's low.
  • 62% of our list is in a bearish momentum regime (a 23% drop from last week).

International Universe:

  • Our International Equities universe was green this week as 97% of our list closed higher with a median return of 3.05%.
  • This week, Chile $ECH was the leader with a 9.59% gain.
  • Nigeria $NGE was the biggest loser again this week, dropping by -0.75%.
  • 90% of our international universe closed higher than their prior week's high.
  • Meanwhile, 0% of our list closed lower than their prior week's low.
  • There was an 11% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 8%.
  • The median asset in our international universe is 18.6% below its 52-week high (21.6% last week).
  • 73% of our list is in a bearish momentum regime (a 22% drop from last week).
  • 87% of our international list made fresh 4-week highs, and 13% of our list made fresh 13-week highs.
  • On the other hand, only 2% of our list made fresh 4-week lows.
  • Netherlands $EWN and Pacific $IPAC both posted bullish reversal weeks.

US Sector Universe:

  • This week, our sector universe was positive, with 100% of our list closed higher with a median return of 3.95%.
  • Mid Cap Energy was the leader with a 9.70% gain.
  • 100% of our sector list made fresh 4-week highs, and 68% of our list made fresh 13-week highs.

  • On the other hand, 0% of our list made fresh 4-week lows.
  • There was a 6% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
  • 89% 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.
  • 38% of our list is in a bearish momentum regime (a 32% drop from last week).
  • The median asset in our sector universe is 11.3% below its 52-week highs (14.9% last week).
  • Equal Weight Health Care $RYH, Large Cap Consumer Discretionary $XLY, Mid Cap Tech and Small Cap Industrials $PSCI posted bullish reversal weeks.

US Industry Universe:

  • Our Industry universe was green this week as 100% closed higher with a median return of 3.71%.
  • This week's biggest winner was Rare Earth/Strategic Metals $REMX, which gained 11.10%.
  • 49% of our list is in a bearish momentum regime (a 22% drop from last week).
  • 7% of the assets on our industry list are within 5% of their 52-week highs (a 5% gain from last week).
  • The median asset in our industry universe is 17.8% below its 52-week highs (compared to 22.7% last week).
  • 93% 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.
  • 98% of our industry list made fresh 4-week highs, and 62% of our list made fresh 13-week highs.
  • On the other hand, 0% of our list made fresh 4-week lows.

That's it for this week's highlights!

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Thanks for reading and please let us know if you have any questions!

Allstarcharts Team

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