September 17, 2021 7:39am
Quadruple Witching will occur today during the final hour of stock market trading, stock index futures, stock index options, stock options, and single-stock futures expire
Pre-open indications: Neutral on all moves
What I provide is an intelligence daily. RMi outlines the prelude to the daily dose of facts and objectivity!
Remember that overnight and pre-open actions in futures doesn't necessarily translate into actual trading in the coming day’s session.
Dow futures are DOWN -0.16% (-57 points), S&P futures are DOWN -0.23% (-10 point) and NASDAQ futures are DOWN -0.25% (-38 point)
Stock futures were lower in early premarket trading on Friday,
European markets were mixed,
Asia-Pacific markets were also mixed
Data Docket: Investors in recent days have been reacting to softer U.S. inflation data which tempered expectations of imminent tapering of asset purchases by the Federal Reserve, and weak retail sales figures from China, which suggested a slowdown in the global economic recovery.
- Also, U.K. retail sales fell unexpectedly in August, dropping 0.9% month on month against a Reuters average forecast for a 0.5% rise. The fourth consecutive monthly decline marks the longest negative streak since records began.
On Thursday, the Dow lost -63 points (after being down as much as 274 points at its low), the S&P 500 fell -5.95 points while the Nasdaq rose +20 points.
For September (so far), the Dow is down 1.7%, the S&P 500 is off by 1.1% and the Nasdaq has lost 0.5%.
The quadruple witch(ing) is riding volatility that has come during September is often surrounding so-called quadruple witching, which occurs at the close Friday. This is the expiration of stock index futures, stock index options, stock options, and single-stock futures.
If you didn’t remember what happen at Thursday night’s close and the quarter’s “number’s” impact, you won’t be prepared for today’s session:
- Thursday’s evening’s recap: “the cell and gene therapy sector share pricing beat-back quadruple witching” … https://www.regmedinvestors.com/articles/12098
- September, 1 holiday, 5 positive and 6 negative close
- August - 12 positive and 10 negative close
- July: 6 positives, 1 holiday and 15 negative closes
Q2/21 Earnings releases … https://www.regmedinvestors.com/articles/11542 … to date:
Applied Genetic technologies (AGTC) – reports 9/23
Companies in my headlights – It’s your decision; I provide an idea and context:
NEUTRAL as quadruple witching … happens
The BOTTOM LINE: Not yielding, I keep reinforcing the theme that increased stock market volatility suppresses the stem, cell and gene therapy sector; yet the more oversold – the greater the capacity to selectively … rebound as an avenue to profiting.
I maintain, the recent stem, cell and gene therapy sector investors should be a bit more defensive, limiting new buys and perhaps curtailing overexposure.
Or it could say buying opportunities are here today and maybe tomorrow but G O N E soon!
Theme is uncertainty, more likely to me: skepticism …
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
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.
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.