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 85% of our list closing higher with a median return of 2.00%.
- Oil $CL was the winner, closing with an 8.26% gain.
- The biggest loser was the Volatility Index $VIX, with a weekly loss of -13.16%.
- There was a 7% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 74% of our macro list made fresh 4-week highs, and 45% made new 13-week highs.
- Meanwhile, 6% of our list made fresh 4-week lows.
- The median asset in our macro universe is 10.9% below its 52-week highs (15.3% last week).
- 79% of our macro universe closed higher than their prior week's high.
- Conversely, only 11% of our list closed lower than their prior week's low.
- 60% of our list is in a bearish momentum regime (an 8% drop from last week).
International Universe:
- Our International Equities universe was green this week as 94% of our list closed higher with a median return of 3.17%.
- Nigeria $NGE was the leader with an 11.16% gain.
- Egypt $EGPT was the biggest loser, dropping by -8.41%.
- 89% of our international universe closed higher than their prior week's high.
- Meanwhile, 3% of our list closed lower than their prior week's low.
- There was a 5% 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 12.4% below its 52-week high (16.9% last week).
- 30% of our list is in a bearish momentum regime (a 10% drop from last week).
- 87% of our international list made fresh 4-week highs, and 70% made new 13-week highs.
- On the other hand, only 3% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was positive, with 91% of our list closing higher with a median return of 2.50%.
- Small Cap Energy $PSCE was the biggest winner, gaining by 7.76%.
- Large Cap Staples $XLP was the biggest loser, dropping by -1.37%.
- 89% 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.
- 94% of our sector list made fresh 4-week highs, and 49% made new 13-week highs.
- On the other hand, only 2% of our list made fresh 4-week lows.
- There was a 19% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 28%.
- 70% of our list is in a bearish momentum regime (a 4% drop from last week).
- The median asset in our sector universe is 7.5% below its 52-week highs (13.4% last week).
US Industry Universe:
- Our Industry universe was green this week as 98% closed higher with a median return of 4.48%.
- This week's biggest winner was Solar $TAN, which gained 10.65%.
- The US Aerospace & Defense $ITA was the biggest loser, which dropped -1.18%.
- 60% of our list is in a bearish momentum regime (a 13% drop from last week).
- There was an 11% 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 14.1% below its 52-week highs (compared to 18.3% last week).
- Only 89% of our industry universe closed higher than their prior week's high.
- Meanwhile, 0% of our list closed lower than their prior week's low.
- 93% of our industry list made fresh 4-week highs, and 42% made new 13-week highs.
- On the other hand, 0% of our list made fresh 4-week lows.
That's it for this week's highlights!
