March 27, 2024 7:39am

As inflation data enhances resistance

Pre-open Indications: 2 Sell into Any Strength, 2 Negative and 1 Positive Indications

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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

More frequently right than consequentially wrong

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Wednesday: The pre-open Dow futures are UP +0.43% or (+169 points), the S&P futures are UP +0.40% or (+21 points) as the Nasdaq futures are UP +0.43% or (+78 points)

Stock futures are up Wednesday,

European stocks were mixed,

Asia-Pacific markets were mixed.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes rose slightly Tuesday … as the Dow closed DOWN -312.31 points or -0.08%, the S&P closed DOWN -14.61 points -0.28% while the Nasdaq closed DOWN -58.77 points or -0.42%.

Despite the recent pullback, the three averages are still on pace to end the trading month and quarter, which both conclude with Thursday’s closing bell, in the green.

Traders will monitor commentary from Federal Reserve Governor Christopher Waller Wednesday evening.

Economic Data Docket: MBA mortgage applications, week ended March 22 (-1.6% previously)

 

Tuesday’s night RegMed Investors (RMi) Closing Bell: “a negative sector close. Served as an appetizer for Friday’s inflation data and market holiday.” …  https://www.regmedinvestors.com/articles/13391   

 

Q1/24: march – 7 positive and 11 negative closes

  • February – 1 market holiday, 11 positive and 9 negative closes
  • January: 2 holidays, 11 negative and 8 positive closes

 

Companies in my headlights – It’s your decision; I provide ideas and context:

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

Sell into any Strength:

Tuesday, Monday, Friday, Thursday and last Wednesday, closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Maintaining, Vericel (VCEL) closed up +$1.62 after Monday’s +$1.04, Friday’s +$0.21 and last Thursday’s +$0.94 with a neutral pre-open indication.

Voyager Therapeutics (VYGR) closed up +$0.76 after Monday’s +$0.25 and Friday’s -$0.39, Thursday’s -$0.95 after last Wednesday’s +$0.29 with a neutral pre-open indication

 

Negative Indications:

Tuesday, Monday, Friday, Thursday and last Wednesday, closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Adverum Biotechnologies (ADVM) closed down -$0.80 after Monday’s -$1.11, Friday’s +$1.31, Thursday’s -$0.45 and last Wednesday’s -$0.13 with a neutral pre-open indication.

Mesoblast (MESO) closed up+$1.73 with a negative -$0.46 or -11.70% pre-open indication.

 

Positive Indications:

Tuesday, Monday, Friday, Thursday and last Wednesday, closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Beam Therapeutics (BEAM) closed down -$0.47 after Monday’s +$0.06, Friday’s -$1.32 with a neutral pre-open indication.

 

The BOTTOM LINE:  There aren't a lot of cell and gene therapy sector equities flashing buy signals; yet, a number of our “universe” are about to “flow” downward.

  • Investors should add cautiously, but it's not a time to be ramping-up portfolio additions.

As I had stated, “This week is a light one for economic data, with the spotlighted release — the Labor Department's Personal Consumption Expenditures price index is expected on Friday”

 

The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.

  • 29 (of 35 covered companies) will have reported …6 are left to release earnings of my covered group.

 

Tuesday stats relating to Wednesday:

  • Tuesday, key indexes closing with slim-to-modest declines as the Dow lost about 0.1%, the S&P 500 index fell 0.3%, while the Nasdaq declined 0.4%.
  • The 10-year Treasury yield rose two basis points to 4.33%.
  • The small-cap Russell 2000 slipped 0.2%.

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. All investments are subject to risks. Investors should consider investment objectives.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.  Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.