March 23, 2018 5:14pm

A swing low is created when a low is lower than any other point over a given time period

The downside momentum continued adding to the steep weekly loss

 

As I had stated this a.m., “The sector could see more pressure as the fear and emotion grow.”

 

Pre-open indications: 0 HIT and 2 MISS (sold into strength on one and bought into a dip on the other)

 

Interpretation, insight and translation with an end-of-day recap of the sessions impact, settlement with an opinion of what could or should happen the next session thrown in.

 

 


 

Henry’omics:

From the pre-open’s newsletter, “…trade jitters spook markets … While the sector’s volatility is high, volume is low. As I had stated, “The issue is that we are still testing lows … investors could see more pressure on stocks if the sell-off isn’t seen as a chance to buy the many dips.” The sector could see more pressure as the fear and emotion grow. Today’s key word: vulnerability.”

Investors are more than a little worried ahead of the weekend. Traders have been buying a little bit of the options that expire next week which would give you a little protection over the weekend.

There's no panic, but the negativity has worked to further de-stabilize the sector which has even longer time for an upside move.

The market has created a lot of downside momentum and until that momentum is broken, it's still the driving force!

 

My evaluation ...

Which could also … mean that the downtrend is coming to an end?

What more can one say ... keep your eyes on the opening moves on Monday and stay cautious ...

... VIP, the algorithms will be dictating!!!

 

The advance/decline line scenario of 40 covered companies:   

  • The open was negative with the A/DL to 11/25 and 4 flat;
  • The mid-day stayed negative with an A/DL of 18/20 and 2 flat;
  • The close concluded negative with an A/DL of 8/28 and 4 flat;

 

Pre-open indications: 0 HITs and 2 MISS

  • bluebird bio (BLUE) closed up +$7.70 – miss;
  • Spark Therapeutics (ONCEO closed down -$0.53 – miss;

 

MY working trend lines:

The greatest volume to the downside:  SGMO, MDXG, XON, VCEL and NWBO

Upside volume was weighted to:  BLUE, IMUC, CYTX, STML and CAPR

Biggest $ downside:  RGNX (-$0.85), ONCE (-$0.53), XON (-$0.51), VCEL (-$0.50) and CLLS (-$0.43)

Largest $ upside: BLUE (+$7.70), RENE.L (+$0.50), STML (+$0.15), OSIR (+$0.05) and CAPR (+$0.04)

Flat:  ADVM, VTGN, CUR and ISCO

 

Daily analytics:

U.S. stocks ended sharply lower on Friday, with the main benchmarks recording their biggest weekly losses in more than two years as concerns over a potential trade war with China continued to worry investors.

  • The Dow dropped 424.69 points, or 1.8%, to 23,533.20.
  • The S&P 500 index slumped 55.43 points, or 2.1%, to end at 2,588.26.
  • The NASDAQ declined 174.01 points, or 2.4%, to 6,992.67.

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,

  • Friday traded at 24.87, up +6.56% …
  • Thursday traded at 23.34, up +30.68%
  • Wednesday traded at 16.59, down -3.71%
  • Tuesday traded at 18.20, down -4.31%
  • Monday traded at 19.02, up +20.38%
  • Last Friday traded at 15.80, down -4.76%

 

The iShares Russell 2000 (IWM) indicated:

  • Friday was down -2.13%
  • Thursday -2.15%
  • Wednesday -0.49%
  • Tuesday -0.02%
  • Monday -0.95%
  • Last Friday +0.53%

 

The iShares NASDAQ Biotechnology (IBB) indicated:

  • Friday was down -2.63%
  • Thursday -2.30%
  • Wednesday -0.98%
  • Tuesday +0.05%
  • Monday -2%
  • Last Friday +0.06%

 

The count - decliners versus gainers:

……. look at the differences in decliners:

  • Friday’s decliners ranged from -0.09% <QURE -$0.02> to -7.89% <AST -$0.15> in 28 equities;
  • Thursday’s decliners ranged from -0.58% <CUR -$0.01> to -6.67% <CAPR -$0.11> in 26 equities;
  • Wednesday’s decliners ranged from -0.33% <HSGX -$0.01> to -5.69% <CAPR -$0.09> in 19 equities;
  • Tuesday’s decliners ranged from -0.17% <CLBS -$0.01> to -6.80% <XON -$1.116> in 23 equities;
  • Monday’s decliners ranged from -0.23% <XON -$0.04> to -9.03% <ADVM -$0.65> in 25 equities;
  • Last Friday’s decliners ranged from -0.34% < FATE -$0.04> to -6.92% <BLUE -$14.85> in 17 equities;

Versus

… Look at the percentage’s (%) and spreads …

  • Friday’s gainers ranged from +0.55% < RENE.L +$0.50> to +4.25% <BLUE +$7.70 > in 8 equities;
  • Thursday’s gainers ranged from +0.30% <QURE +$0.07> to +11.76% <AST +$0.20> in 11 equities;
  • Wednesday’s gainers ranged from +0.57% <IMUC +$0.002> to +5.42% <AGTC +$0.225> in 19 equities;
  • Tuesday’s gainers ranged from +0.53% <ATHX +$0.01> to +6.64% <QURE +$1.38> in 14 equities;
  • Monday’s gainers ranged from +0.03% <CYTX +$0.0001> to +5.45% <OSIR +$0.47> in 14 equities;
  • Last Friday’s gainers ranged from +0.12% <NWBO +$0.0004> to +11.48% <FCSC +0.07> in 23 equities;

  

                                

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.

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.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.