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 57% of our list closing lower with a median return of -0.16%.
- The Dow Jones Transports $DJT was the winner with a 7.15% gain.
- The biggest loser was Oil $CL, with a weekly loss of -7.89%.
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 17%.
- 36% of our macro list made fresh 4-week highs, and 36% made new 13-week highs.
- Meanwhile, 15% of our list made fresh 4-week lows.
- The median asset in our macro universe is 9.2% below its 52-week highs (10.4% last week).
- 34% of our macro universe closed higher than their prior week's high.
- Conversely, 30% of our list closed lower than their prior week's low.
- 38% of our list is in a bearish momentum regime (a 19% drop from last week).
International Universe:
- Our International Equities universe was red this week as 68% of our list closed lower with a median return of -1.17%.
- Israel $EIS was the leader with a 3.45% gain.
- Pakistan $PAK was the biggest loser, dropping by -10.32%.
- 17% of our international universe closed higher than their prior week's high.
- Meanwhile, 40% of our list closed lower than their prior week's low.
- There was a 2% gain in the percentage of assets on our list within 5% of their 52-week lows – currently at 8%.
- The median asset in our international universe is 10.4% below its 52-week high (10.8% last week).
- 24% of our list is in a bearish momentum regime (a 3% drop from last week).
- 27% of our international list made fresh 4-week highs, and 25% made new 13-week highs.
- On the other hand, 22% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was positive, with 85% of our list closing higher with a median return of 2.11%.
- Small Cap Materials $PSCM was the biggest winner, gaining by 6.34%.
- Equal Weight Energy $RYE was the biggest loser, dropping by -6.10%.
- 79% of our sector universe closed higher than their prior week's high.
- On the flip side, 9% of our list closed lower than their prior week's low.
- 74% of our sector list made fresh 4-week highs, and 70% made new 13-week highs.
- On the other hand, 11% of our list made fresh 4-week lows.
- There was an 8% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 38%.
- 28% of our list is in a bearish momentum regime (a 38% drop from last week).
- The median asset in our sector universe is 6.7% below its 52-week highs (7.8% last week).
US Industry Universe:
- Our Industry universe was green this week as 60% closed higher with a median return of 1.36%.
- This week's biggest winner was Retail $XRT, which gained 6.95%.
- Oil Refiners $CRAK was the biggest loser, which dropped -6.26%.
- 31% of our list is in a bearish momentum regime (a 13% drop change from last week).
- There was a 4% gain in the percentage of assets on our list within 5% of their 52-week highs – currently at 24%.
- The median asset in our industry universe is 11.5% below its 52-week highs (compared to 12.9% last week).
- 56% of our industry universe closed higher than their prior week's high.
- Meanwhile, 13% of our list closed lower than their prior week's low.
- 56% of our industry list made fresh 4-week highs, and 51% made new 13-week highs.
- On the other hand, 2% of our list made fresh 4-week lows.
That's it for this week's highlights!
