March 28, 2018 5:13pm

The NASDAQ (-0.85%) slipped and the IBB (+0.82%) skips along

 

“Our” universe is getting more than depressed …

“My gut instinct was for an upside play” - even I thought a bounce would be in the cards – it WASN’T!

 

End of day briefing; the “numbers” speak!


 

Henry’omics:

From the pre-open’s newsletter, “a sector wipe-out and an overreaction … as the month and quarter ending in a shortened week. The IBB indicated a POSITIVE +0.93% upside in Wednesday’s pre-market with the XBI (+0.94%), IWM (+0.39%) while the XLV (-0.07%) is down.

The advance/decline line scenario of 40 covered companies:   

  • The open was negative with the A/DL to 10/26 and 4 flat;
  • The mid-day stayed negative with an A/DL of 12/26 and 2 flat;
  • The close concluded negative with an A/DL of 13/26 and 1 flat;

Investors are facing hefty losses for March …

The top five (5) decliners on Wednesday were: AXGN (-8.30%), FATE (-6.84%), NWBO (-6.68%), AST (-6.25%) and RENE.L (-5.46%)

The top five (5) from the upside were: MiMedx (MDXG +4.90%), SGMO (+3.82%), BCLI (+3.56%), STML (+2.93%) and ONCE (+2.35%)

Volume is STILL low …

The question is WHERE is the SUPPORT level?

 

Review the last 6 session’s close (of 40 covered companies):

  • Wednesday closed NEGATIVE with 26 decliners, 13 advancers and 1 flat;
  • Tuesday closed NEGATIVE with 35 decliners, 2 advancers and 3 flats;
  • Monday closed POSITIVE with 17 decliners, 21 advancers and 2 flats;
  • Friday closed NEGATIVE with 28 decliners, 8 advancers and 4 flats;
  • Thursday closed NEGATIVE with 26 decliners, 11 advancers and 3 flats;
  • Last Wednesday closed NEUTRAL with 19 decliners, 19 advancers and 2 flats;

 

Pre-open indications:

As I stated, “Algorithms should be on our side for once!” – They were NOT …

 

MY working trend lines:

The greatest volume to the downside:  NWBO, IMUC, AXGN, BLUE and XON

Upside volume was weighted to:  SGMO, MDXG, CYTX, ADVM and ONCE

Biggest $ downside:  RENE.L (-$5.00), AXGN (-$3.30), BLUE (-$3.05), FATE (-$0.70) and XON (-$0.21)

Best moves to the $ upside: ONCE (+$1.5), SGMO (+$0.730, CLLS (+$0.71), QURE (+$0.53) and STML (+$0.45)

… Flats: ONVO

 

Daily analytics:

U.S. equity benchmarks switched between gains and losses on Wednesday as the market struggled to find purchase higher following Tuesday’s technology-driven rout.

  • Dow lost 43 points, or 0.2%, to 23,798.
  • The S&P 500 index slipped by 11 points, or 0.4%, to 2,601.
  • The NASDAQ was down 63 points, or 0.9%, at 6,945.

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

  • Wednesday traded at 22.77, up +0.76% …
  • Tuesday traded at 22.50, up +6.99%
  • Monday traded at 21.03, down -15.44%
  • Friday traded at 24.87, up +6.56%
  • Thursday traded at 23.34, up +30.68%
  • Last Wednesday traded at 16.59, down -3.71%

 

The iShares Russell 2000 (IWM) indicated:

  • Wednesday was down -0.03%
  • Tuesday -1.92%
  • Monday +2.18%
  • Friday -2.13%
  • Thursday -2.15%
  • Last Wednesday -0.49%

 

The iShares NASDAQ Biotechnology (IBB) indicated:

  • Wednesday was up +0.82%
  • Tuesday -2.77%
  • Monday +2.68%
  • Friday -2.63%
  • Thursday -2.30%
  • Last Wednesday -0.98%

 

The count - decliners versus gainers:

……. look at the differences in decliners:

  • Wednesday’s decliners ranged from -0.31% <FCSC -$0.0018 > to -8.30% <AXGN -$3.30 > in 26 equities;
  • Tuesday’s decliners ranged from -1.01% <MESO -$0.06 > to -15.74% <SGMO -$3.55 > in 35 equities;
  • Monday’s decliners ranged from -0.03% < BLUE -$0.05> to -16.79% < KOOL -$0.45> in 17 equities;
  • 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;
  • Last Wednesday’s decliners ranged from -0.33% <HSGX -$0.01> to -5.69% <CAPR -$0.09> in 19 equities;

Versus

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

  • Wednesday’s gainers ranged from +0.41% <BTX +$0.01> to +4.90% <MDXG +$0.33> in 13 equities;
  • Tuesday’s gainers ranged from +0.36% <HSGX +$0.01 > to +0.66% <STML +$0.10 > in 2 equities;
  • Monday’s gainers ranged from +0.39% <ADVM +$0.03 > to +8.37% <MDXG +$0.56> in 21 equities;
  • 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;
  • Last Wednesday’s gainers ranged from +0.57% <IMUC +$0.002> to +5.42% <AGTC +$0.225> in 19 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.