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 89% of our list closing lower with a median return of -2.14%.
- The Volatility Index $VIX was the winner, closing with an 8.24% gain.
- The biggest loser was Silver $SI, with a weekly loss of -4.17%.
- There was a 7% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 6%.
- 9% of our macro list made fresh 4-week highs.
- Meanwhile, 83% of our list made fresh 4-week lows.
- The median asset in our macro universe is 11.5% below its 52-week highs (10.1% last week).
- 4% of our macro universe closed higher than their prior week's high.
- Conversely, 79% of our list closed lower than their prior week's low.
- 43% of our list is in a bearish momentum regime (a 5% gain from last week).
International Universe:
- Our International Equities universe was red this week with a median return of -2.83%.
- Nigeria $NGE was the leader with a 6.23% gain.
- China $FXI was the biggest loser, dropping by -5.49%.
- 0% of our international universe closed higher than their prior week's high.
- Meanwhile, 89% of our list closed lower than their prior week's low.
- There was no change in the percentage of assets on our list within 5% of their 52-week lows – currently at 11%.
- The median asset in our international universe is 12.9% below its 52-week high (10.6% last week).
- 65% of our list is in a bullish momentum regime (a 10% drop from last week).
- 0% of our international list made fresh 4-week highs.
- On the other hand, 78% of our list made fresh 4-week lows.
US Sector Universe:
- This week, our sector universe was negative, with 91% of our list closing lower with a median return of -2.69%.
- Mid-Cap Energy was the biggest winner, gaining by 2.88%.
- Telecom was the biggest loser, dropping by -5.03%.
- 0% of our sector universe closed higher than their prior week's high.
- Conversely, 74% 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, 70% of our list made fresh 4-week lows.
- There was a 15% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 21%.
- 28% of our list is in a bearish momentum regime (no change from last week).
- The median asset in our sector universe is 9.7% below its 52-week highs (7.5% last week).
US Industry Universe:
- Our Industry universe was red this week as 96% closed lower with a median return of -3.06%.
- This week's biggest winner was Oil & Gas Exploration & Production $XOP, which gained 2.74%.
- Retail $XRT was the biggest loser, which dropped -6.71%.
- 33% of our list is in a bearish momentum regime (a 2% gain from last week).
- There was an 11% drop in the percentage of assets on our list within 5% of their 52-week highs – currently at 11%.
- The median asset in our industry universe is 16.3% below its 52-week highs (compared to 13.7% last week).
- 0% of our industry universe closed higher than their prior week's high.
- Meanwhile, 89% 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, 76% of our list made fresh 4-week lows.
That's it for this week's highlights!
