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 64% of our list closed lower with a median return of -0.89%.
- Silver $SI was the big winner again, closing with an 8.55% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -6.85%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs, which remains at 6%.
- 21% of our macro list made fresh 4-week highs.
- Meanwhile, 9% of our list made fresh 4-week lows.
- The median asset in our macro universe is 20.1% below its 52-week highs (18.9% last week).
- 21% of our macro universe closed higher than their prior week's high.
- Conversely, 15% of our list closed lower than their prior week's low.
- 87% of our list is in a bearish momentum regime (no change from last week).
International Universe:
- Our International Equities universe had a rare green week as 78% of our list closed higher with a median return of 1.91%.
- China $FXI was the leader with a 10.68% gain.
- Israel $EIS was the biggest loser this week, dropping by -3.55%.
- 67% of our international universe closed higher than their prior week's high.
- Meanwhile, 5% of our list closed lower than their prior week's low.
- There was a 15% increase in the percentage of assets on our list within 5% of 52-week lows (currently 17%), and the median percentage above 52-week lows is only 9%.
- Meanwhile, the median asset in our international universe is 25.8% below its 52-week high (27.6% last week).
- 87% of our list is in a bearish momentum regime (a 2% drop from last week).
- 63% of our international list made fresh 4-week highs.
- On the other hand, 6% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was negative as 81% of our list closed lower with a median return of -1.48%.
- Mid Cap Energy was the biggest winner, gaining 4.48%.
- Large Cap Communication Services $XLC was the biggest loser this week, dropping by -6.75%.
- 17% of our sector universe closed higher than their prior week's high.
- On the flip side, 9% of our list closed lower than their prior week's low.
- 19% of our sector list made fresh 4-week highs.
- On the other hand, only 2% of our list made fresh 4-week lows.
- There was a 13% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 15%.
- 89% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our macro universe is 17.2% below its 52-week highs (16.7% last week).
US Industry Universe:
- Our Industry universe was mixed with a bias lower this week as 58% closed in the red with a median return of -0.75%.
- This week's biggest winner was Copper Miners $COPX, which gained 9.91%.
- This week's biggest loser was Cloud Computing $SKYY, which dropped -10.90%.
- 76% of our list is in a bearish momentum regime (no change from last week).
- There was a 14% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 18%.
- The median asset in our industry universe is 24.3% below its 52-week highs (compared to 26.4% last week).
- 22% of our industry universe closed higher than their prior week's high.
- Meanwhile, 16% of our list closed lower than their prior week's low.
- 40% of our industry list made fresh 4-week highs.
- On the other hand, 7% of our list made fresh 4-week lows.
That's it for this week's highlights!
