Russia's Micex Stock Index climbed over 2% and the ruble gained for the first time in 5 days as investors judged the additional sanctions the U.S. and the EU imposed on Russia were milder than anticipated.

Utilities continue to hold onto the top slot in our weekly sector ranking. Basic materials and industrial goods also score above average. Consumer goods score inline, with mid and small cap consumer scoring relatively better than large cap.

The average score across our large cap universe is 58.95 this week, above the four week moving average score of 57.29. The average large cap is trading -10.45% below its 52 week high, 2.67% above its 200 dma, has 3.7 days to cover short, and is expected to post EPS growth of 13.58% next year.

Across our large cap universe, the average score is 55.71, below the four week moving average score of 56.80. The average large cap is trading -11.69% below its 52 week high, 1.31% above its 200 dma, has 3.89 days to cover held short, and is expected to grow EPS by 13.79% next year.

The average large cap score pops to 59.86 this week, moving it above the four week moving average score of 58.23. The average large cap is trading -10.5% below its 52 week high, 2.78% above its 200 dma, has 4.09 days to cover held short, and is expected to post EPS growth of 13.96% next year.

The best large cap sector is utilities, which offer robust seasonality ahead of summer. Basic materials have strengthened thanks to improving scores for oil & gas.