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 51% of our list closing higher with a median return of 0.11%.
- Lumber $LB was the winner, closing with a 25.23% gain.
- The biggest loser was the Dow Jones Utilities $DJU, with a weekly loss of -2.83%.
- There was no change in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- 47% of our macro list made fresh 4-week highs, and 30% made new 13-week highs.
- Meanwhile, 9% of our list made fresh 4-week lows.
- The median asset in our macro universe is 11.4% below its 52-week highs (10.9% last week).
- Only 32% of our macro universe closed higher than their prior week's high.
- Conversely, 9% of our list closed lower than their prior week's low.
- 60% 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 70% of our list closed higher with a median return of 0.68%.
- Turkey $TUR was the leader with a 10.10% gain.
- Pakistan $PAK was the biggest loser, dropping by -3.83%.
- 63% 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 a 1% drop in the percentage of assets on our list within 5% of their 52-week lows – currently at 5%.
- The median asset in our international universe is 12.5% below its 52-week high (12.4% last week).
- 29% of our list is in a bearish momentum regime (a 1% drop from last week).
- 68% of our international list made fresh 4-week highs, and 57% 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 negative, with 79% of our list closing lower with a median return of -1.08%.
- Large Cap Communication Services $XLC was the biggest winner, gaining by 1.43%.
- Large Cap Industrials $XLI was the biggest loser, dropping by -3.39%.
- 13% of our sector universe closed higher than their prior week's high.
- On the flip side, 13% of our list closed lower than their prior week's low.
- 21% of our sector list made fresh 4-week highs, and 9% made new 13-week highs.
- On the other hand, only 13% of our list made fresh 4-week lows.
- There was a 9% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 19%.
- 70% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 8.8% below its 52-week highs (7.5% last week).
US Industry Universe:
- Our Industry universe was red this week as 56% closed lower with a median return of -0.18%.
- This week's biggest winner was Oil Refiners $CRAK, which gained 3.02%.
- Insurance $IAK was the biggest loser, which dropped -3.18%.
- 60% of our list is in a bearish momentum regime (no change 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 2%.
- The median asset in our industry universe is 12.9% below its 52-week highs (compared to 14.1% last week).
- Only 44% of our industry universe closed higher than their prior week's high.
- Meanwhile, 11% of our list closed lower than their prior week's low.
- 44% of our industry list made fresh 4-week highs, and 22% made new 13-week highs.
- On the other hand, 7% of our list made fresh 4-week lows.
- That's it for this week's highlights!
