June 26, 2018 8:00am

As many sector equities are stuck where volume slipped, alongside, beneath or barely above the three (3) month moving average.

A “tricky” place …

 

Pre-open indications: 2 BUYs and 1 SELL

RMi is first in reporting the pricing component of pre-open indications that shed light on share value!

 

U.S. stock index futures are fluctuating around the flat-line

Dow futures are DOWN -0.19% (-42 points) and NASDAQ futures are NEUTRAL -/+0.1% (1 points)

 

US futures look directionless ahead of the open

European stocks traded mostly higher

Asian stocks closed lower on Tuesday, tracking losses seen stateside.

 

Data docket: the Philadelphia Fed’s non-manufacturing business outlook survey at 8:30 a.m. ET, followed by the S&P/Case Shiller House Price Index at 9 a.m. ET. At 10 a.m. ET, consumer confidence and the Richmond Fed survey of manufacturing activity are set to be released, followed by the Dallas Fed’s Texas service sector outlook survey at 10:30 a.m. ET.

 

Henry’omics:

 

The premarket stumbled on Tuesday, as trade tensions continued to escalate.

More than a worth to listen:  BrainStorm Cell Therapeutics Inc. (BCLI) will hold a conference call today, at 08:30am (ET) to announce its policy in regards to the "Right to Try" legislation. USA Toll Free:  1.888-668-9141

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Tuesday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is NOT indicating in Tuesday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Tuesday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating a -0.17% downside in Tuesday’s pre-open

 

From Monday’s night’s newsletter: “sector stocks went to the woodshed. Yet another I told you so … In today’s session, volume was up and in some cases exceeding the 3 month average – a  new phenomenon.” 

Re the title, “Many chart watchers believe that a so-called death cross marks the spot a short-term decline morphs into a longer-term downtrend.

  • I also stated yesterday, “I don’t have MUCH expectation for the week!

The iShares NASDAQ Biotechnology (IBB) was down -1.81% after Friday’s -0.34%, Thursday’s -1.13%,  Wednesday’s +1.66% and last Tuesday’s +1.46% … for an aggregate of -0.16% - the oversold need to be recognized.

  • In my universe of 45 companies, I have seen, in the month of June (so far): 10 positive, 6 negative and 1 neutral closes – not quite a roller-coaster but, too random for any pattern to be discerned.

Of the 45 companies covered the 31 downside equities finished in a range of -$0.03 to -$8.70 while the 10 upside equities oscillated from +$0.01 to $1.50 with 4 flat closes.

  • Monday’s gainers ranged from +0.79% <PSTI +$0.01> to +8.65% <CUR +$0.09 > in 10 equities;
  • Monday’s decliners ranged from -0.83% <ADVM -$0.05 > to -8.1% <FATE -$1.04) in 31 equities;

 

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

Athersys (ATHX) closed down -$0.03 to $2.01 and in the aftermarket was down -$0.06 or -2.99%. Just NOT getting any respect after their Helios “deals” which saw a high of $2.79 and a low of $1.96 in June. OVERSOLD but, what will turn or is it time to butt up against the negative sentiment?  – Maintaining SELL;

Vericel (VCEL) closed down -$0.65 to $10.35 and has an aftermarket indication of +$0.15 or +1.45%. June has seen a high of $14.40 and a low of $10.35 (yesterday). After closing an offering - are there questions about the ending of the quarter and sales? Oversold with $74.8 M in new cash - BUY;

Verastem Oncology (VSTM) closed down -$0.23 to $7.43 after closing flat Friday at $7.66. VSTM joined the Russell 3000® Index at the conclusion of the Russell US Indexes annual reconstitution, effective upon the US market open on Monday, June 25, 2018.– Maintaining BUY;

 

 

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.