May 23, 2018 5:07pm

Ended with an algorithmic finger in the dike (?) and closed to the upside

 

With relative strength (lines) trending upward

 

Still my concern is low volume as

… The upside was broader (range of +$0.01 to -$5.81) in 28 equities while the downside ranged weakly and top-heavy (-$0.01 to -$8.49) was in 16 stocks

 

Pre-open indications: 2 HIT and 1 MISS ($0.17 cents)

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Henry’omics:

From the pre-open newsletter, “get ready for a slide with the IBB (-0.26%), XBI (-0.50%), IWM (-0.325) are down while the XLV ain’t saying. Watch, many of the “usual suspects” will be considered oversold.”

... And then the oversold … weren’t in the water!

Volume is still low affecting the upside more than the downside.

Falling into the deserved category (AGTC, ATHX, BLFS, BSTG and CLBS) or the usual rotation (ALNY, SLDB, SAGE, BOLD (again) and BTX).

While the upside of CRSP, BLUE, ONCE – each one again in league of AXGN, EDIT, RARE and NTLA saw some serious movement in a session have been “quibbled-over” in the last few weeks due to Q1 “earnings”.

 

Pre-open indications:

  • Cellectis S.A. (CLLS) closed up +$0.17 – miss;
  • CRISPR Therapeutics (CRSP) closed up +$5.81 – hit;
  • Editas Medicine (EDIT) closed up +$1.90 – hit;

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an ADL of 17/24 and 4 flats;
  • The mid-day flipped positive with an A/SL of 25/19 and 1 flat;
  • The close was positive with an A/DL of 28/16 and 1 flat;

 

MY working five (5) trend lines:

The greatest volume to the downside:  KOOL, ATHX, ALNY, RGNX and SAGE

Upside volume was weighted to:  MDXG, ONVO, CRSP, VSTM and SGMO

Biggest $ downside:  SAGE (-$8.49), BOLD (-$1.20), SLDB (-$0.97), ALNY (-$0.86) and RENE.L (-$0.50)

Best moves to the $ upside:  CRSP (+$5.81), BLUE (+$3.75), ONCE (+$3.37), AXGN (+$2.00) and EDIT (+$1.90)

… Flats:  NONE

 

Daily analytics:

Market indexes reverse losses …

  • The Dow rose +0.21% or 52.4 points to close at 24,886.81,
  • The S&P 500 rose 0.3% or 8.85 points to finish at 2,733.29,
  • The NASDAQ added 0.6% or 47.50 points to finish at 7,425.96.

 

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

  • Wednesday traded at 12.68, down -4.46%
  • Tuesday traded at 13.18, up +0.76%
  • Monday traded at 13.08, down -2.53%
  • Friday traded at 13.42, down -0.07%
  • Thursday traded at 13.40, down -0.15%
  • Last Wednesday traded at 13.42, down -8.27%

 

The iShares Russell 2000 (IWM) indicated:

  • Wednesday closed up +0.15 %
  • Tuesday closed down -0.73%
  • Monday closed up +$0.66%
  • Friday closed up +0.13%
  • Thursday +0.46%
  • Last Wednesday +1.04%

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Wednesday closed up +0.50%
  • Tuesday closed up +0.32%
  • Monday closed down -1.32%
  • Friday closed up +0.20%
  • Thursday was up +0.06%
  • Last Wednesday +0.89%

 

The count in May - decliners versus gainers:

……. look at the differences in decliners:

  • Wednesday’s decliners ranged from – 0.16% <MESO -$0.01 > to -5.16% <SAGE -$8.49 > in 16 equities;
  • Tuesday’s decliners ranged from -%0.27 <VYGR -$0.05 > to -7.14% <AST -$0.125> in 16 equities;
  • Monday’s decliners ranged from -0.09% <FATE -$0.01 > to -6.35% <SLDB -$1.39 > in 30 equities;
  • Friday’s decliners ranged from -0.13% <OSIR -$0.01 > to -8.24% <EDIT -$3.13 > in 23 equities;
  • Thursday’s decliners ranged from -0.14% <MDXG -$0.01> to -5.57% <SAGE -$9.77> in 20 equities;
  • Last Wednesday’s decliners ranged from -0.17% <CRSP -$0.10 > to -33.07% <KOOL -$0.27 > in 15 equities;

Versus

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

  • Wednesday’s gainers ranged from +0.19% < VSTM +$0.01> to +11.71% <MDXG +$0.90 > in 28 equities;
  • Tuesday’s gainers ranged from +0.18% < FATE +$0.02> to +10.80% <ONVO +$0.19 > in 27 equities;
  • Monday’s gainers ranged from +0.11% <BLFS +$0-.01> to +3.27% <ATHX +$0.08 > in 12 equities;
  • Friday’s gainers ranged from +0.13% <BCLI +$0.01 > to +5.68% <VSTM +$0.27 > in 22 equities;
  • Thursday’s gainers ranged from +0.05% <ALNY +$0.05 > to +21.91% < BOLD +$7.44> in 23 equities;
  • Last Wednesday’s gainers ranged from +0.26% <STML +$0.05 > to +7.59% <ATHX +$0.17 > in 27 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.