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, with 70% of our list closing higher with a median return of 1.46%.
- Oil $CL was the winner, closing with a 16.54% gain.
- The biggest loser was Dow Jones Utilities $DJU, with a weekly loss of -2.82%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- Only 11% of our macro list made fresh 4-week highs.
- Meanwhile, 23% of our list made fresh 4-week lows, 23% made fresh 13-week lows, and 23% made fresh 52-week lows.
- The median asset in our macro universe is 22.5% below its 52-week highs (24.2% last week).
- 13% of our macro universe closed higher than their prior week's high.
- Conversely, only 6% of our list closed lower than their prior week's low.
- 89% of our list is in a bearish momentum regime (no change from last week).
International Universe:
- Our International Equities universe was green this week as 87% of our list closed higher with a median return of 1.59%.
- Turkey $TUR was the leader again, with an 11.59% gain.
- Vietnam $VNM was the biggest loser, dropping by -6.69%.
- 25% of our international universe closed higher than their prior week's high.
- Meanwhile, only 5% of our list closed lower than their prior week's low.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
- The median asset in our international universe is 30.2% below its 52-week high (31.3% last week).
- 90% of our list is in a bearish momentum regime (a 1% increase from last week).
- 5% of our international list made fresh 4-week highs.
- On the other hand, 10% of our list made fresh 4-week lows, 6% made fresh 13-week lows, and 6% made fresh 52-week lows.
US Sector Universe:
- This week, our sector universe was positive as 79% of our list closed higher with a median return of 2.13%.
- Small Cap Energy $PSCE was the biggest winner, gaining 15.49%.
- Small Cap Rela Estate $ROOF was the biggest loser, dropping -8.21%.
- 4% of our sector list made fresh 4-week highs.
- On the other hand, 19% of our list made fresh 4-week lows, 19% made fresh 13-week lows, and 15% made fresh 52-week lows.
- There was a 4% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 87%.
- 21% of our sector universe closed higher than their prior week's high.
- On the flip side, 19% of our list closed lower than their previous week's low.
- 91% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 23.3% below its 52-week highs (24.9% last week).
US Industry Universe:
- Our Industry universe was green as 89% closed higher with a median return of 2.48%.
- This week's biggest winner was Oil Services $OIH, which gained 17.08%.
- The biggest loser was Solar $TAN, which dropped -3.48%.
- 80% of our list is in a bearish momentum regime (no change 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 29.7% below its 52-week highs (compared to 31.0% last week).
- 31% of our industry universe closed higher than their prior week's high.
- Meanwhile, 7% of our list closed lower than their prior week's low.
- Only 2% of our industry list made fresh 4-week highs.
- On the other hand, 9% of our list made fresh 4-week lows, 7% made fresh 13-week lows, and 7% made fresh 52-week lows.
That's it for this week's highlights!
