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 with 81% of our list closing lower for a median return of -2.02%.
- The Volatility Index $VIX was the winner again, closing with a 5.68% gain.
- The biggest loser was Dow Jones Utilities $DJU, with a weekly loss of -9.20%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- Only 6% of our macro list made fresh 4-week highs.
- Meanwhile, 79% of our list made fresh 4-week lows, 79% made fresh 13-week lows, and 74% made fresh 52-week lows.
- The median asset in our macro universe is 24.2% below its 52-week highs (22.5% last week).
- Only 6% of our macro universe closed higher than their prior week's high.
- Conversely, 70% of our list closed lower than their prior week's low.
- 89% of our list is in a bearish momentum regime (a 10% increase from last week).
International Universe:
- Our International Equities universe was red this week as 89% of our list closed lower with a median return of -2.13%.
- This week, Pakistan $PAK was the leader with a 5.61% gain.
- Philippines $EPHE was the biggest loser this week, dropping by -7.21%.
- Only 2% of our international universe closed higher than their prior week's high.
- Meanwhile, 84% 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 31.3% below its 52-week high (29.4% last week).
- 89% of our list is in a bearish momentum regime (a 3% increase from last week).
- 0% of our international list made fresh 4-week highs.
- On the other hand, 89% of our list made fresh 4-week lows, 79% made fresh 13-week lows, and 78% made fresh 52-week lows.
US Sector Universe:
- This week, our sector universe was negative as 83% of our list closed lower with a median return of -2.22%.
- Small Cap Energy $PSCE was the biggest winner this week, gaining 6.37%.
- Equal Weight Utilities $RYU was the biggest loser, dropping -9.12%.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, 83% of our list made fresh 4-week lows, 79% made fresh 13-week lows, and 68% made fresh 52-week lows.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 0%.
- 0% of our sector universe closed higher than their prior week's high.
- On the flip side, 74% of our list closed lower than their prior week's low.
- 91% of our list is in a bearish momentum regime (13% increase from last week).
- The median asset in our macro universe is 24.9% below its 52-week highs (24.5% last week).
US Industry Universe:
- Our Industry universe was red this week as 67% of ETFs closed lower with a median return of -1.69%.
- This week's biggest winner was Gold Miners $GDX, which gained 7.49%.
- This week's biggest loser was Mortgage Real Estate $REM, which dropped -16.47%.
- 80% of our list is in a bearish momentum regime (11% increase 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 31.0% below its 52-week highs (compared to 29.6% last week).
- 0% of our industry universe closed higher than their prior week's high.
- Meanwhile, 58% of our list closed lower than their prior week's low.
- 0% of our industry list made fresh 4-week highs.
- On the other hand, 67% of our list made fresh 4-week lows, 56% made fresh 13-week lows, and 42% made fresh 52-week lows.
That's it for this week's highlights!
