April 1, 2024 7:15am

Indicators are flashing that the market's height may be due for a break as economic data gets weightier

Pre-open Indicators: 6 Positive and 1 Negative Indicators

I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

Framing the main takeaway … pricing, volume and volatility!

My version of the morning’s numbers is written to be informative; it’s including what happened or will beyond the headline and shapes today’s markets as seen by RMi - hang-out with me -- SUBSCRIBE!

 

Monday: The pre-open Dow futures are UP +0.28% or (+111 points), the S&P futures are UP +0.38% or (+20 points) as the Nasdaq futures are UP +0.56% or (+103 points)

Stock futures were up and ascending on Monday, April 1st,

Markets were closed Easter Monday,

Asia Pacific markets were mixed, some up, one closed (Australia) and a few down.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Friday was a market holiday, Thursday, the Dow closed UP +47.29 points or +0.12%, the S&P closed UP +5.56 points +0.11% while the Nasdaq closed DOWN -20.06 points or -0.12%

For March, the Dow was up +2.1%, the S&P was up +3.1% and the Nasdaq +1.8%.

For Q1/24, the S&P 500 is up +10.2%, the Dow is up +5.6%. The Nasdaq is up +9.1% in.

Economic Data Docket: S&P Global US Manufacturing PMI, March, final (52.4 previously); Construction spending month-over-month, February (0.5% expected, -0.2% prior); ISM manufacturing, March (48.5 expected, 47.8 prior)

  • The March jobs report, which is due out Friday morning. Updates on activity in the services and manufacturing parts of the economy are also on the economic calendar.
  • Updates on the labor market will highlight the first trading week of the new quarter. Fresh readings on job openings, and wage data will preface the biggest headline of the week.

 

Thursday’s night RegMed Investors (RMi) Closing Bell: “Occam’s Razor” … https://www.regmedinvestors.com/articles/13394

 

Q1/24: Q2 – April 1st session

Q1/24

  • March – 8 positive and 12 negative closes
  • February – 1 market holiday, 11 positive and 9 negative closes
  • January: 2 holidays, 11 negative and 8 positive closes

 

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

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

Negative Indication:

Thursday, Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Vericel (VCEL) closed down -$0.31 after Wednesday’s +$2.77, Tuesday’s +$1.62 and Monday’s +$1.04 with a neutral pre-open indication.

 

Positive Indications:

Thursday, Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed down -$4.94 after Wednesday’s +$2.42 with a neutral pre-open indication.

Regenxbio (RGNX) closed down -$1.111 after Wednesday’s +$0.51, Tuesday’s +$0.08 and Monday’s -$0.19 with a neutral pre-open indication

Solid Biosciences (SLDB) closed down -$0.93 after Wednesday’s +$0.68 with a neutral pre-open indication.

Voyager Therapeutics (VYGR) closed down -$0.25 after Wednesday’s -$0.46, Tuesday’s +$0.76 and Monday’s +$0.25 with a neutral pre-open indication.

CRISPR Therapeutics (CRSP) closed down -$2.00 after Wednesday’s -$0.81 with a positive +$0.95 or +1.39% pre-open indication.

Intellia Therapeutics (NTLA0 closed up +$0.49 after Wednesday’s +$0.76 and Tuesday’s -$0.57 with a positive +$0.17 or +0.62% pre-open indication.

 

The BOTTOM LINE:  The stock market rally enjoyed a solid, holiday-shortened week…

  • Catalysts are needed to up the sentiment other than “uncle algorithms and the electronic dwarfs” hyping any gains.

Presenting alternative hypotheses clarifies material facts and evidence available to investors.

  • While many talk about the shift in alternating sentiment, I monitor the pulse and focus of possible outcomes.
  • Skim if you can trim, buy if it will fly and sell if compelled!

A bit preachy, “The take-away, don’t dwell on what’s happened and follow RMi’s lesson of investing in those who guide and then meet short-term expectation.”

Last week:

  • Market breadth was impressive during the week. The small-cap Russell 2000 jumped 2.5%, hitting a two-year high. The Invesco S&P 500 Equal Weight ETF (RSP) gained 1.6%, setting a record high. The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) rose 0.4% vs. the Nasdaq 100's 0.5% slide.
  • The 10-year Treasury yield fell 3 basis points to 4.19% for the week, dipping below the 200-day line. <IBD>

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

 

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. All investments are subject to risks. Investors should consider investment objectives.

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 could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.