From the desk of Steve Strazza @Sstrazza

At the beginning of each week, we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the relative strength trends at play and preview some of the things we're watching in order to profit in the current market environment.

This week, we're going to highlight the continued outperformance from offensive assets as well as the weakness we're starting to see from many defensive assets. This kind of action continues to suggest increasing risk-appetite and is supportive of higher prices within Equity and Commodity Markets.

From the desk of Steve Strazza @Sstrazza

At the beginning of each week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the relative strength trends at play and give our outlook and some of the things we're watching for in the week ahead.

This week, we're going to highlight our US Index and Sector ETF tables and focus on the rotation we're seeing into more offensive areas of US Equities. We'll then tie this into what we're seeing across the FICC universe.

From the desk of Steve Strazza @Sstrazza

Every week we publish performance tables for a variety of different asset classes and categories, along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the relative strength trends at play and give our outlook, as well as some of the things we're watching for in the month ahead.

With July just coming to a close, we're going to focus on that month's returns for insight into the near-term and analyze a variety of monthly charts in order to view the recent performance within the context of the underlying trends.

This week, we'll highlight the broad-based bullish performance across just about every asset class in July, as well as one of the tailwinds for this which was the weak US Dollar.

Here is our list of International Indexes. We continue to see outperformance from the US, China, and other areas of Asia such as Taiwan (which is not shown in the table, but made new all-time highs this month). The Shanghai Composite and Wilshire 5000 are outperforming their peers with significant gains over every timeframe.

From the desk of Steve Strazza @Sstrazza

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Looking at the past helps put the future into context. In this post, we review the relative strength trends at play and give our outlook and some of the things we're watching for in the week ahead.

This week we're going to highlight our International ETF and Global Index tables, and focus on some of the rotation we're seeing into more offensive assets across the board. Let's dive into it.

Emerging Markets $EEM, particularly Latin America $ILF, continue to rebound strong. These two indexes were this week's leaders on our International ETF list but notice that they are also the top performers over the trailing one and three month periods.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, July 10, 2020:

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

This week we're going to highlight our US Index and Sector ETF tables, and focus on the laggards as they are giving us the most important information for the current market environment. Let's dive into it.

No surprises here... The Nasdaq $QQQ outperformed aggressively once again last week, booking a +4.7% gain while Mid, Small, and Micro-Caps were all lower. The Nasdaq is the only US Index that is higher over the trailing month.

From the desk of Steve Strazza @Sstrazza

For the week ended Thursday, July 2, 2020:

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Being Independence Day weekend, we're going to highlight the continued structural outperformance from the US vs rest of the world in this week's post. As a good patriot and technician, I would be remiss not to take this opportunity to reflect on how grateful US investors should be.

Here are our US Index ETF and Global Index tables.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, June 26, 2020:

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness."

It sounds like Charles Dickens could have been writing about today's market in his famous passage from A Tale of Two Cities.

Many areas of Growth and Technology are trading at or near record highs, and it's sure felt like the "best of times" for anyone who's been overweight these stocks in recent years.

On the other hand, cyclicals and Value were already hurting coming into the year and then endured serious structural damage during the Q1 crash. If you've been invested in these areas, particularly those groups directly impacted by Covid-19, it might just seem like the "worst of times."

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, June 19, 2020:

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Despite some volatility in the second half, risk assets continued their steady march higher last week. The broadening participation from Equities was again evident as every major US and Global Index was higher with the exception of Dow Utilities $DJU.

We've written extensively about the strongest areas and those first to reclaim their highs. In this post, we'll highlight a handful of Equity ETFs/Indexes which are at or just beneath fresh highs. Whether these areas work through their overhead supply or get rejected at these key levels will provide important information into the strength and durability of the current rally.

Let's dive right in and take a look at our Sector SPDR ETF table.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, June 12, 2020:

Every week we publish performance tables for a variety of different asset classes and categories along with commentary on each.

Last week was a big one for the bears as most risk-assets sold off aggressively to end the week after a strong start.

Many major Indexes in both International and Domestic Equity Markets printed bearish island reversal patterns, most of which occurred at logical levels of overhead supply. Read our post about it here.

We also just wrote about how the market's secular leaders are holding up best since market internals peaked about two weeks ago. We're going to use our US Index and Sector tables below to highlight the noteworthy relative strength from these areas amid the recent market weakness.

Let's take it from the top and begin with our US Index ETF table.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, June 5, 2020:

Every weekend we publish performance tables for a variety of different asset classes and categories along with commentary on each.

This was a big week for market bulls as a myriad of consolidations resolved to the upside while the powerhouse Nasdaq 100 $QQQ finally became the first major index to reclaim its all-time highs. The only assets to post negative returns this week were the usual "safe-havens" such as Treasuries, Yen, and Precious Metals. Everything else was green. How's that for improving risk-appetite?

In this post, we'll highlight that this broadening participation and flight towards risk-assets is more than just a one-week phenomenon. We've seen this type of price behavior in some asset classes for over a month now.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, May 29, 2020:

Every weekend we publish performance tables for a variety of different asset classes and categories along with commentary on each.

This was a special week as Friday marked the end of May which means fresh monthly candlestick data. Analyzing these long-term monthly charts every several weeks is a great exercise as it forces us to take a step back and identify the structural trends that are in place.

As such, this week’s theme is the continued outperformance over both the short and long-term from those areas sporting the strongest primary uptrends.

Tech $XLK is by far the best performing sector over the trailing year. It is also the 2nd best over the past month and quarter, behind Communications $XLC and Health Care $XLV, respectively. Not surprisingly, these same sectors are also the next best performers over the trailing year.

From the desk of Steve Strazza @Sstrazza

For the week ended Friday, May 22, 2020:

Every weekend we publish performance tables for a variety of different asset classes and categories along with commentary on each.

This week’s main theme is risk-on action from beaten-down areas which we'll highlight in our US Index and Factor ETF tables, below.

We're putting a lot of emphasis on risk-appetite measures right now in order to provide insight into how the recent rangebound activity in Equity and Bond markets is likely to resolve itself.

The most basic way to assess risk-tolerance is to compare the performance of risk-on vs risk-off assets. As such, this post will focus on how the offensive vs defensive areas of various markets are acting right now.

Click table to enlarge view.