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, with 55% of our list closing lower with a median return of -0.11%.
- The 30-Year Yield $TYX was the winner, closing with an 8.32% gain.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -7.74%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 2%.
- 15% of our macro list made fresh 4-week highs, and 9% made new 13-week highs.
- Meanwhile, 43% of our list made fresh 4-week lows.
- The median asset in our macro universe is 16.6% below its 52-week highs (17.1% last week).
- Only 11% of assets in our macro universe closed higher than their prior week's high.
- Conversely, 34% of our list closed lower than their prior week's low.
- 68% 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 62% of our list closed higher with a median return of 0.40%.
- Brazil $EWZ was the leader with a 9.84% gain.
- Egypt $EGPT was the biggest loser, dropping by -5.15%.
- Only 3% of our international universe closed higher than their prior week's high.
- Meanwhile, 19% of our list closed lower than their prior week's low.
- There was a 1% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 13%.
- The median asset in our international universe is 20.4% below its 52-week high (20.7% last week).
- 41% of our list is in a bearish momentum regime (a 1% gain from last week).
- 10% of our international list made fresh 4-week highs, and 8% made new 13-week highs.
- On the other hand, 21% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was mixed as 60% of our list closed higher with a median return of 0.26%.
- Small Cap Energy $PSCE was the biggest winner, gaining by 4.53%.
- Large Cap Consumer Discretionary $XLY was the biggest loser, dropping by -3.35%.
- 0% of our sector universe closed higher than their prior week's high.
- On the flip side, 17% 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, 40% of our list made fresh 4-week lows.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- 74% of our list is in a bearish momentum regime (a 2% increase from last week).
- The median asset in our sector universe is 14.4% below its 52-week highs (17.6% last week).
US Industry Universe:
- Our Industry universe was red this week as 58% closed lower with a median return of -0.76%.
- This week's biggest winner was Oil Services $OIH, which gained 5.63%.
- Lithium & Battery Tech $LIT was the biggest loser, falling-6.39%.
- 73% of our list is in a bearish momentum regime (a 4% gain from last week).
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 22%.
- The median asset in our industry universe is 22.9% below its 52-week highs (compared to 22.7% last week).
- Only 2% of our industry universe closed higher than their prior week's high.
- Meanwhile, 44% of our list closed lower than their prior week's low.
- 0% of our industry list made fresh 4-week highs.
- On the other hand, 49% of our list made fresh 4-week lows.
That's it for this week's highlights!