August 22, 2019 8:52am

There is a chair missing; so who will sit the BUY or the SELL

August has 8 POSITIVE and 8 NEGATIVE closes, so far … another session of what?

Low volume infects liquidity!

Who and where are the buyers or is it just another “tourist” trading session?

 

When playing this game, the only thing you can be sure of is you’ll end up without a seat at the table!

 

Dow futures are UP +0.13% (+33 points), S&P futures are UP +0.12% (+3 points) and NASDAQ futures are UP +0.06% (+5 points)

 

U.S. stock index futures turned slightly positive after being barely negative to open flat to hardly higher;

European stocks traded lower after the widely watched two (2) year-10-year U.S. yield curve inverted for the 2nd time in two (2) weeks as the pan-European Stoxx 600 slipped -0.4% in early trade;

Asian Pacific stocks were mixed  - mainland Chinese markets recovered, Hong Kong was down with Japan, South Korea; overall, MSCI’s broadest index of Asia-Pacific shares outside Japan lost -0.38%;

 

Data docket: latest weekly jobless claims report will be released at 8:30 a.m. ET. Leading index data for July and the Kansas City Fed survey, manufacturing Purchasing Managers’ Index (PMI) and services PMI for August will all follow slightly later in the session.

 

 

Henry’omics:

Market focus is largely attuned to the Fed’s central banking meeting in Jackson Hole, Wyoming over the next two days.

The Jackson Hole gathering kicks of later Thursday, where Fed officials will convene with academics and foreign central bankers in the Grand Teton Mountains in Wyoming to discuss the economic outlook. Fed Chairman Jerome Powell will deliver a closely watched speech on the challenges facing monetary policy at 10 a.m. ET on Friday <MarketWatch>.

Investors also will be watching for signals from Europe, with the European Central Bank set to publish the minutes from its most recent policy-setting session.

The take away from the cell and gene therapy sector is un-seated questioned by sustainability today and definitely tomorrow!

What does that sentence say … “our” universe is wandering waiting for the music to stop and a seat to be grabbed!

 

From Wednesday’s evening post, “another high after a dive; love those algorithms “ruling” the machines, today. Traders trade while investors stay stationary waiting for the volatility to subside.”

•             The NASDAQ was up +71.65 or +0.90% to 8,020.21;

•             The IBB closed up +0.91% and the XBI also closed up +0.96 %

•             The close was positive with an A/D Line of 24/18 and 1 flat and 2 acquired;

•             The range of the 24 upside was +0.16% (QURE) to +7.75% (VSTM) while the 18 downside ranged from -0.05% (BLCM) to -8.66% (STML);

•             0 out of the 24 upside had higher than the 3 month average volume;

•             5 out of the 18 downside had higher than the 3 month average volume;

 

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

*** Low volume stimulated the up and downside, last night – doesn’t set much expectation or appetite for more risk***

Remarks from yesterday still hold water but, it still doesn’t get you a seat in the game musical chairs:

*** Resistance levels are tough to overcome … as one company “sneezes” other sector participants’ catch a cold and then the  whole sector gets infected ***

 

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.