July 10, 2024 7:47am

The cell and gene therapy sector flies (I believe) unsteadily by flapping its share pricing

Framing today’s main takeaway … volatility?

Pre-open Indications: passing today

A daily analytic read-out from RMi is constructed of specific warnings challenging share pricing situations

Never leave an investor uninformed

 

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

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday

 

Wednesday: The pre-open Dow futures are DOWN -0.02% or (-6 points), the S&P futures are UP +0.0.15% or (+8 points) as the Nasdaq futures are UP +0.27% or (+56 points)

  • Stock futures were mixed or barely up on Wednesday,
  • European markets were slightly higher,
  • Asia-Pacific markets were mixed.

 

Henry’omics:

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

Indexes came off a mixed session that pushed the Nasdaq and S&P 500 to new records as Fed Chair Powell cautioned that keeping rates elevated for too long could stunt economic growth.

Tuesday: The Dow closed DOWN -52.82 points or -0.13%, the S&P closed UP +4.13 points or +0.07% while the Nasdaq closed UP +25.55 points or +0.14%

Tuesday’s advance/decline line ended with a positive close of 19 incliners, 12 decliners and 4 flats

 

RegMed Investors (RMi) Closing bell: “warm hands and cold feet. Reflects an uncertainty continuum as sector rebounds as fear builds in the sector, earnings season advances while the summer pullback gains and loses momentum.” https://www.regmedinvestors.com/articles/13526   

 

Q3/24:

  • July: 1 market holiday. 1 day off, 2 negative, 1 neutral (Friday) and 2 positive (Monday and Tuesday) closes

Q2/24: 

  • June – 1 market holiday, 7 positive and 1 negative closes
  • May – 1 holiday, 11 positive and 11 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.

 

Insight is about understanding perception … and possibly inevitability

Yet again, I am passing on forecasting the daily indications as I believe many equities are OVERBOUGHT and about to be SOLD into by electronic trading, algo rules and traders;  as the aftermarket fluctuated and the pre-open waits for an all-clear alarm …  it is still a mix of ups, downs and just unknowns.

 

The BOTTOM LINE:  I got that feeling i.e., a “beat” flutter… what’s about to change … I say everything!

Are we headed to a clash of algos and electronic trading while Fed Chief Powell and a CPI report loom this week?

  • The Russell 2000 fell 0.45%. The small-cap index is stuck below its 50-day line, hitting resistance there again on Monday.

Reiterating, “the biggest economic data of the week comes Thursday, when the Bureau of Labor Statistics is expected to deliver the latest Consumer Price Index report. Economists see headline CPI slowing to 3% year-over-year growth. Core CPI, in contrast, is expected to hold steady at annualized growth of 3.4%. Producer price index (PPI) data is due Friday. <IBD>

 

Every time, when I hear and read new highs – I say BYE!

 

Last and this week to date:

  • Tuesday ended with a positive close of 19 incliners, 12 decliners and 4 flats
  • (7/8) Monday ended with 24 incliners, 8 decliners and 3 flats
  • Friday ended with a neutral close of 16 incliners, 16 decliners and 3 flats
  • Thursday was a market holiday
  • Wednesday was a day off
  • Tuesday ended with a negative close of 6 incliners, 19 decliners and 3 flats
  • (7/1) Monday ended with a negative close of 13 incliners, 19 decliners and 3 flats

 

“It's hard to argue with record highs almost on a repeated basis here." However, viewing the situation from a technical lens," identifies potential concerns. Markets appear overbought, with divergences in market breadth and a steady decline in economic indicators. Based on these factors, anticipate a short-term market pullback. < LPL Financial chief technical strategist Adam Turnquist>

  • If not tomorrow, it will be here very soon! - <me>

 

Due “dates” are soon for Q2 LPS (loss per-share) boding releases.

  • I’m still NOT feeling optimism --- it’s only a party for visits from “uncle algo and his electronic trading dwarfs”!
  • Reiterating, “There is still the issue of the lack of catalysts as we head into Q2 earnings season.”

 

Watch the “numbers, charts and indicators” measure the daily, weekly, and monthly charts can filter out or lessen the noise of back-and-forth share pricing from sector rotation.

  • The short-term moving averages help you identify the momentum of the trend — that is, overbought or oversold

 

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.
  • 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 it’s 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.