July 17, 2019 6:50pm

Markets fell on Wednesday as the corporate earnings season rolled on

Volume was low and the Advance/decline (A/D0 line was strapped at 23/20 with 0 flat and 2 acquired

I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.

 

I personally believe that a reputational factor needs to be introduced versus the “spins” practiced by more than some companies

 

Markets and indexes:

  • Wednesday, the Dow closed down -115.78 points or -0.42% to 27,219.85
  • Tuesday, the Dow closed down -23.53 points or -0.09% to 27,335.63
  • Monday, the Dow closed up +27.13 points or +0.10% to 27,359.16;

 

  • Wednesday, the S&P closed down -19.62 points or -0.65% at 2,984.42;
  • Tuesday, the S&P closed down -10.25 points or -0.34% at 3,004.04;
  • The S&P closed up +0.53 points or +0.02% at 3,014.30

 

  • Wednesday, the NASDAQ was down -37.59 or -0.46% to 8,185.21
  • Tuesday, the NASDAQ was down -35.29 or -0.43% to 8222.80
  • Monday, the NASDAQ was up +14.04 or +0.17% to 8258.18

 

Henry’omics:

Sector equities jumped after yesterday’s negative close.

Markets closed at their lows of the day just after the Wall Street Journal reported that progress on a trade deal with China are stalled over restrictions on Huawei, citing people familiar with the talks.

 

The percentage (%) indicators: 

  • Wednesday’s range of the 23 upside was +0.12% (BMRN) to +17.92% (CUR after a 1 for 20 reverse +$0.0632) while the 20 downside ranged from -0.15% (VCEL) to -4.49% (ONVO);
  • Tuesday’s range of the 15 upside was +0.14% (KOOL) to +8.32% (CUR) while the 27 downside ranged from -0.06% (QURE) to -4.43% (BCLI);
  • Monday’s range of the 26 upside was +0.12% (RARE) to +11.79% (CLBS) while the 15 downside ranged from -0.05% (ONCE) to -4.88% ();

 

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday the IBB closed up +0.19% while the XBI closed up +0.05%
  • Tuesday the IBB closed down -0.58% while the XBI closed down -0.84%
  • Monday the IBB closed up +0.53% while the XBI also closed up +0.36%

 

Tuesday’s advance/decline line scenario of 45 covered companies:  

  • The mid-day was positive with an A/D Line of 25/18 with 0 flats and 2 acquired;
  • The close was positive with an A/D Line of 23/20 and 0 flat and 2 acquired;

 

Leading decliners were:

  • Alnylam Pharmaceuticals (ALNY -$1.56 after Tuesday’s +$1.45 and Monday’s+$1.25);
  • Voyager Therapeutics (VYGR -$0.945);
  • Spark Therapeutics (ONCE -0.65);
  • Adverum Biotechnologies (ADVM -$0,56 after Tuesday’s +$0.43);
  • Cellectis SA (CLLS -$0.29);

Tuesday’s incliners:

  • ReNeuron (RENE.L +$12.50 after Tuesday’s +$7.50);
  • bluebird bio (BLUE +$5.79 after Tuesday’s -$2.09 and Monday’s +$3.10);
  • uniQure (QURE +$2.83);
  • Sage Therapeutics (SAGE +$1.41 after Tuesday’s-$7.15 and Monday’s -$2.55);
  • Global Blood Therapeutics (GBT +$1.53 after Tuesday’s -$2.25);

 

Upside volume stats:  to compare

  • Wednesday: 5 out of the 23 upside had higher than the 3 month average volume;
  • Tuesday: 4 out of the 15 upside had higher than the 3 month average volume;
  • Monday: 3 out of the 26 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Wednesday: 1 out of the 20 downside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 27 downside had higher than the 3 month average volume;
  • Monday: 3 out of the 15 downside had higher than the 3 month average volume;

0 flat with 2 acquired (AST & OSIR) and the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed

 

July’s sessions and the beginning of Q3:

Wednesday closed POSITIVE with 20 decliners, 23 advancers, 0 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 27 decliners, 15 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 15 decliners, 26 advancers, 2 flats and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 22 decliners, 21 advancers, 0 flats and 2 acquired (AST & OSIR);

Thursday closed NEGATIVE with 26 decliners, 14 advancers, 3 flats and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 25 decliners, 16 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 29 decliners, 13 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 24 decliners, 18 advancers, 1 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);Thursday was a holiday;

Wednesday closed POSITIVE with 10 decliners, 31 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 30 decliners, 11 advancers, 2 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);

 

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.