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:
- Our macro universe was negative this week as 77% of our list was lower for a median return of -1.07%.
- Lumber $LB was the winner, closing with a 10.86% gain.
- The biggest loser was Silver $SI, with a weekly loss of -10.78%.
- There was a 3% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 9%.
- Only 11% of our macro list made fresh 4-week highs.
- Meanwhile, 47% of our list made fresh 4-week lows, 45% made fresh 13-week lows, and 45% made fresh 52-week lows.
- The median asset in our macro universe is 24.1% below its 52-week highs (22.5% last week).
- Only 9% of our macro universe closed higher than their prior week's high.
- Conversely, 55% 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 red again as 78% of our list closed lower for a median return of -1.59%.
- Denmark $EDEN was the leader with a 1.99% gain.
- China $FXI was the biggest loser, dropping by -8.38%.
- 0% of our international universe closed higher than their prior week's high.
- Meanwhile, 60% of our list closed lower than their prior week's low.
- There was a 9% increase in the percentage of assets on our list within 5% of their 52-week lows – currently at 89%.
- The median asset in our international universe is 31.5% below its 52-week high (30.2% last week).
- 90% of our list is in a bearish momentum regime (no change from last week).
- 3% of our international list made fresh 4-week highs.
- On the other hand, 49% of our list made fresh 4-week lows, 46% made fresh 13-week lows, and 43% made fresh 52-week lows.
US Sector Universe:
- Our sector universe was negative as 74% of our list closed lower with a median return of -0.90%.
- Small Cap Financials $PSCF was the biggest winner, gaining 3.01%.
- Mid Cap Technology was the biggest loser, dropping -5.19%.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, 28% of our list made fresh 4-week lows, 28% made fresh 13-week lows, and 28% made fresh 52-week lows.
- There was a 2% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 85%.
- 0% of our sector universe closed higher than their prior week's high.
- On the flip side, 34% of our list closed lower than their prior 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 24.1% below its 52-week highs (23.3% last week).
US Industry Universe:
- Our Industry universe was red as 73% closed lower with a median return of -2.37%.
- This week's biggest winner was Community Banks $QABA, which gained 4.14%.
- Semiconductors $SOXX was the biggest loser, dropping -8.34%.
- 82% of our list is in a bearish momentum regime (a 2% gain from last week).
- 60% of the assets on our industry list are within 5% of their 52-week lows.
- The median asset in our industry universe is 33.0% below its 52-week highs (compared to 29.7% last week).
- 2% of our industry universe closed higher than their prior week's high.
- Meanwhile, 47% of our list closed lower than their prior week's low.
- 2% of our industry list made fresh 4-week highs.
- On the other hand, 33% of our list made fresh 4-week lows, 33% made fresh 13-week lows, and 27% made fresh 52-week lows.
That's it for this week's highlights!
