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 slightly negative, as 64% of our list closed lower with a median return of -0.13%.
- The 30-Year Yield $TYX was the winner again, closing with a 3.87% gain.
- The biggest loser was Lumber $LB, with a weekly loss of -2.68%.
- 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, 47% of our list made fresh 4-week lows.
- The median asset in our macro universe is 16.9% below its 52-week highs (16.6% last week).
- Only 9% of our macro universe closed higher than their prior week's high.
- Conversely, 19% 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 red this week as 67% of our list closed lower with a median return of -0.22%.
- Chile $ECH was the leader with a 3.56% gain.
- Mexico $EWW was the biggest loser this week, dropping by -4.78%.
- Only 10% of our international universe closed higher than their prior week's high.
- Meanwhile, 14% of our list closed lower than their prior week's low.
- There was a 3% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 16%.
- The median asset in our international universe is 19.8% below its 52-week high (20.4% last week).
- 41% of our list is in a bearish momentum regime (no change from last week).
- 8% of our international list made fresh 4-week highs, and 8% made new 13-week highs.
- On the other hand, 33% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was negative, as 70% of our list closed lower with a median return of -0.18%.
- Small Cap Information Tech $PSCT was the biggest winner this week, gaining by 0.88%.
- Mid Cap Energy was the bigger loser, dropping by -1.83%.
- 15% 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.
- 0% of our sector list made fresh 4-week highs.
- On the other hand, 38% of our list made fresh 4-week lows.
- There was no change 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 (no change from last week).
- The median asset in our sector universe is 14.9% below its 52-week highs (14.4% last week).
US Industry Universe:
- Our Industry universe was mixed this week as 53% of ETFs closed lower with a median return of -0.06%.
- This week's biggest winner was Social Media $SOCL, which gained 2.62%.
- Mortgage Real Estate $REM was the biggest loser, which dropped -2.70%.
- 73% of our list is in a bearish momentum regime (no change from last week).
- There was no change 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 21.0% below its 52-week highs (compared to 22.9% last week).
- Only 22% of our industry universe closed higher than their prior week's high.
- Meanwhile, 9% 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, 36% of our list made fresh 4-week lows.
That's it for this week's highlights!
