May 29, 2024 7:12am

Weak Tuesday aftermarket and pre-market sends message

Pre-open Indication: 1 Positive and 3 Negative Indications

A daily analytic discipline from RMi is constructed by specific warnings of challenging share pricing situations

Never leave an investor uninformed

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

 

Wednesday: The pre-open Dow futures are DOWN -0.56% or (-219 points), the S&P futures are DOWN -0.61% or (-32 points) as the Nasdaq futures are DOWN -0.68% or (-128 points)

  • Stock futures were lower Wednesday,
  • European markets were also lower extending losses,
  • Asia-Pacific markets traded mostly lower.

 

Henry’omics:

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

Tuesday: The Dow closed DOWN -126.73 points or -0.55%, the S&P closed UP +1.32 points or +0.02% while the Nasdaq closed UP +99.09 points or +0.59% - a record close.

May indexes are on track to close the month with impressive gains; the S&P 500 is up 5.4%, the Dow is up +2.7% and the Nasdaq is up +8.7%.

Economic Data Docket: personal income and expenditures report for April, which includes the PCE inflation reading, out Friday.

 

Q2/24:  May – 1 holiday, 9 positive and 10 negative closes

  • April - 16 negative and 6 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.

Positive indications:

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

Solid Biosciences (SLDB) closed down -$0.22 with a neutral pre-open indication

 

Negative indications:

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

Alnylam Pharmaceuticals (ALNY) closed up +$2.30, post Monday’s holiday, Friday’s -$1.62, Thursday’s -$1.52 and last Wednesday’s +$1.28, with a negative -$5.78 or -3.85% pre-open indication.

Sage Therapeutics (SAGE) closed +$0.15 with a neutral pre-open indication.

CRISPR Therapeutics (CRSP) closed down -$o.40, after Monday’s holiday, Friday -$0.49, Thursday’s -$1.07 and last Wednesday’s +$2.04 with a negative -$0.43 or -0.78% pre-open indication.

 

The BOTTOM LINE:  Again, “If playing through the golf course, pick your irons for short and near swings!”

  • Surging Nvidia (NVDA) masks market weakness; with the Nasdaq topping the 17,000 level for the first time while the Dow sank to the 50-day line.
  • While the small-cap Russell 2000 fell 0.1% as the 10-year Treasury yield popped 7 basis points to 4.54%.

 

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.
  • Never forget, one of my usual lines. “The sector is … still what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it.”
  • I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

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.