[PLUS] Weekly Momentum Report & Takeaways

Ian Culley
November 14, 2022

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 87% of our list closing higher with a median return of 3.93%.
  • The S&P High Beta $SPHB was the winner, closing with an 11.26% gain.
  • The biggest loser was The Volatility Index $VIX, with a weekly loss of -8.27%.
  • There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
  • 81% of our macro list made fresh 4-week highs.
  • Meanwhile, 6% of our list made fresh 4-week lows.
  • The median asset in our macro universe is 16.1% below its 52-week highs (20.1% last week).
  • 77% of our macro universe closed higher than their prior week's high.
  • Conversely, 6% of our list closed lower than their prior week's low.
  • 77% of our list is in a bearish momentum regime (a 10% drop from last week).

International Universe:

  • Our International Equities universe was green this week as 92% of our list closed higher with a median return of 5.70%.
  • Netherlands $EWN was the leader again with a 13.31% gain.
  • Brazil $EWZ was the biggest loser, dropping by -9.54%.
  • 89% of our international universe closed higher than their prior week's high.

  • Meanwhile, 2% of our list closed lower than their prior week's low.
  • There was an 11% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 6%.
  • The median asset in our international universe is 19.8% below its 52-week high (25.8% last week).
  • 52% of our list is in a bearish momentum regime (a 35% drop from last week).
  • 89% of our international list made fresh 4-week highs.
  • On the other hand, 2% of our list made fresh 4-week lows.

US Sector Universe:

  • This week, our sector universe was positive, with 100% of our list closing higher with a median return of 5.50%.
  • Equal Weight Cap Technology was the biggest winner, gaining 10.15%.
  • 81% of our sector universe closed higher than their prior week's high.
  • On the flip side, 0% of our list closed lower than their prior week's low.
  • 89% of our sector list made fresh 4-week highs.
  • On the other hand, 0% of our list made fresh 4-week lows.
  • There was a 15% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 0%.
  • 79% of our list is in a bearish momentum regime (a 10% drop from last week).
  • The median asset in our sector universe is 12.4% below its 52-week highs (17.2% last week).

US Industry Universe:

  • Our Industry universe was green this week as 91% closed higher with a median return of 5.58%.
  • This week's biggest winner was Semiconductors $SOXX, which gained 14.95%.
  • The biggest loser was MLP $AMLP, which dropped -1.66%.
  • 69% of our list is in a bearish momentum regime (a 7% drop from last week).
  • There was a 14% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 0%.
  • The median asset in our industry universe is 17.6% below its 52-week highs (compared to 24.3% last week).
  • 69% of our industry universe closed higher than their prior week's high.
  • Meanwhile, 4% of our list closed lower than their prior week's low.
  • 84% of our industry list made fresh 4-week highs.
  • On the other hand, 0% of our list made fresh 4-week lows.

That's it for this week's highlights!

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Thanks for reading and please let us know if you have any questions!

Allstarcharts Team

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