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 85% of our list closed lower with a median return of -1.46%.
- The Volatility Index $VIX was the winner, closing with a 5.48% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -11.67%.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 13% of our macro list made fresh 4-week highs, and 6% of our list made fresh 13-week highs.
- Meanwhile, 15% of our list made fresh 4-week lows.
- The median asset in our macro universe is 12.6% below its 52-week highs (11.8% last week).
- 13% of our macro universe closed higher than their prior week's high.
- Conversely, 28% of our list closed lower than their prior week's low.
- 53% of our list is in a bearish momentum regime (a 9% decrease from last week).
- Frontier Markets $FM, Silver $SI, and Emerging Currencies $CEW all posted bearish reversal weeks.
International Universe:
- Our International Equities universe was full of red this week as 94% of our list closed lower with a median return of -2.67%.
- Turkey $TUR was the leader with a 3.14% gain.
- Chile $ECH was the biggest loser, dropping by -8.78%.
- Only 6% of our international universe closed higher than their prior week's high.
- Meanwhile, 41% of our list closed lower than their prior week's low.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- The median asset in our international universe is 21.3% below its 52-week high (18.6% last week).
- 71% of our list is in a bearish momentum regime (a 2% drop from last week).
- Only 6% of our international list made fresh 4-week highs, while 3% of our list made fresh 13-week highs.
- On the other hand, 14% of our list made fresh 4-week lows.
- Chile $ECH and Frontier Markets $FM both posted bearish reversal weeks.
US Sector Universe:
- This week, our sector universe was negative, as 81% of our list closed lower with a median return of -1.44%.
- Equal Weight Energy $RYE was the leader with a 1.94% gain.
- Large Cap Communication Services $XLC was the biggest loser this week, dropping by -3.14%.
- 19% of our sector list made fresh 4-week highs, and 15% of our list made fresh 13-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 17%.
- 19% of our sector universe closed higher than their prior week's high.
- On the flip side, only 2% of our list closed lower than their prior week's low.
- 23% of our list is in a bearish momentum regime (a 13% decrease from last week).
- The median asset in our sector universe is 12.6% below its 52-week highs (11.3% last week).
- Small Cap Health Care $PSCH posted a bearish reversal week.
US Industry Universe:
- Our Industry universe was red this week as 84% of ETFs closed lower with a median return of -2.62%.
- This week's biggest winner was Natural Gas $FCG, which gained 2.36%.
- Uranium $URA was the biggest loser, dropping by -9.12%.
- 40% of our list is in a bearish momentum regime (a 9% decrease from last week).
- 9% 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 21.5% below its 52-week highs (compared to 17.8% last week).
- 13% of our industry universe closed higher than their prior week's high.
- Meanwhile, 20% of our list closed lower than their prior week's low.
- 13% of our industry list made fresh 4-week highs, and 4% of our list made fresh 13-week highs.
- On the other hand, 7% of our list made fresh 4-week lows.
- Lithium & Battery Tech $LIT posted a bearish reversal week.
That's it for this week's highlights!
