October 17, 2019 9:15am
Markets rallied on the Brexit “deal”, as the treaty removed some investor uncertainty amid heightened concerns about the health of the global economy.
And, we’re even for the month of October, 6 positive and negative closes
What did I say last night, “low volume and minimal percentage moved the pricing needle while the Advance/Decline (A/D) line of 23/19, 0 flat, 1 reversed merged (HSGX) and 2 acquired wobbled lower but, still up;
Insight is about understanding perception and is putting into context what is relevant to expectation fulfillment …
But cannot be imaginative in considering explanations for missing, confusing and often contradictory data while human analysis is able to identify one’s own biases and expectation of what the data might/should/could show!
Dow futures are UP +0.24% (+69 points), S&P futures are UP +0.33% (+10 points) and NASDAQ futures are up +0.43% (+35 points)
U.S. futures were slightly higher after a draft Brexit deal was struck between the European Union and the U.K.;
European stocks soared after a draft Brexit deal was agreed between the U.K. and the European Union as the pan-European Stoxx 600 reversed early losses to jump +0.7%;
Asia Pacific markets traded mixed on Thursday as investors remained cautious over global growth outlook and the ongoing Brexit negotiations between the United Kingdom and the European Union.
Data docket: The latest weekly jobless claims figures, housing starts and building permits for September, and the Philadelphia Federal Reserve’s manufacturing index for October will be released at 8:30 a.m. ET. Industrial production data for September will follow slightly later in the session.
U.S. stock index futures spiked Thursday morning after a draft Brexit deal was struck between the European Union and the U.K.
Major indexes in Japan, South Korea, Australia, and China declined or closed near flat. Hong Kong property names saw gains after the city’s leader Carrie Lam announced on Wednesday measures to ease a housing shortage and calm anti-government protests.
Another earnings call to be registered – Verastem Oncology (VSTM) on 10/29/19.
Wednesday night’s newsletter heading: “low volume and minimal percentage moved …the pricing needle.”
- The NASDAQ closed down -24.52 points (-0.30%);
- The IBB closed down -0.11% while the XBI closed down -0.13%;
- The close was positive with an A/D line of 23/19, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 23 upside was +0.20% (VCEL) to +11.11% (RENE.L) while the 19 downside ranged from -0.40% (NTLA) to -6.25% (IONS);
- 2 out of the 23 upside had higher than the 3 month average volume;
- 3 out of the 19 downside had higher than the 3 month average volume;
- October registered 6 positive, 1 neutral and 6 negative close, so far …
- September, there were 1 holiday, 11 negative, 7 positive and 2 non reported sessions;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I’m STILL following the trading herd but … mindful of upcoming quarterly results and their effect upon share pricing … BUY and get trampled in the coming sessions or SELL into strength or just HOLD and wait to resolve relieve the anxiety until value returns.
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.