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, as 83% of our list closed lower with a median return of -1.66%.
- Crude Oil $CL was the winner, closing with a 4.60% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -5.84%.
- There was a 2% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
- 13% of our macro list made fresh 4-week highs, and 11% made new 13-week highs.
- Meanwhile, 47% of our list made fresh 4-week lows.
- The median asset in our macro universe is 17.1% below its 52-week highs (16.1% last week).
- Only 4% 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.
- 68% of our list is in a bearish momentum regime (a 2% decrease from last week).
International Universe:
- Our International Equities universe was red this week as 87% of our list closed lower with a median return of -2.46%.
- Turkey $TUR was the leader with a 3.33% gain.
- Taiwan $EWT was the biggest loser, dropping by -17.34% (due to a large special dividend).
- Only 3% of our international universe closed higher than their prior week's high.
- Meanwhile, 70% of our list closed lower than their prior week's low.
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 14%.
- The median asset in our international universe is 20.7% below its 52-week high (19.3% last week).
- 40% of our list is in a bearish momentum regime (a 5% gain from last week).
- 5% of our international list made fresh 4-week highs, and 5% made new 13-week highs.
- On the other hand, 44% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was negative, with 91% of our list closing lower with a median return of -2.35%.
- Small Cap Energy $PSCE was the biggest winner, gaining by 3.63%.
- Small Cap Financials $PSCF was the biggest loser, dropping by -4.16%.
- 0% of our sector universe closed higher than their prior week's high.
- On the flip side, 85% of our list closed lower than their prior week's low.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, 79% of our list made fresh 4-week lows.
- There was a 5% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 4%.
- 72% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 17.6% below its 52-week highs (15.4% last week).
US Industry Universe:
- Our Industry universe was red this week as 84% of ETFs closed lower with a median return of -2.27%.
- The biggest winner was Oil Services $OIH, which gained 0.27%.
- Rare Earth/Strategic Metals $REMX was the biggest loser, falling by -8.23%.
- 69% of our list is in a bearish momentum regime (a 5% gain from last week).
- There was an 11% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 20%.
- The median asset in our industry universe is 22.7% below its 52-week highs (compared to 19.9% last week).
- Only 2% of our industry universe closed higher than their prior week's high.
- Meanwhile, 67% 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, 67% of our list made fresh 4-week lows.
That's it for this week's highlights!
