July 17, 2024 7:50am
An aftermarket indication of few upsiders, more down-sliders and some nowhere going pricings
Is it time to consolidating and take gains, remember to leave the big casino with dollars in your portfolio
A daily analytic read-out from RMi is constructed of signals thought-provoking 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 -0.36% or (-149 points), the S&P futures are DOWN -1.07% or (-61 points) as the Nasdaq futures are DOWN -1.63% or (-334 points)
Stock futures were lower on Wednesday,
European stocks were lower,
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 …
Tuesday: The Dow closed UP +742.76 points or +1.85%, the S&P closed UP +35.98 points or +0.64% while the Nasdaq closed UP +36.77 points or +0.20%
On Tuesday, the Russell 2000 added more than 3%, notching its 5th straight day of gains. The small-cap index has jumped more than 10% this month.
Economic Data Docket: Housing starts, June (+1.8% expected, -5.5% previously); Building permits, June (-0.6% expected, -3.8% previously); Industrial production, June (+0.4% expected, +0.9% previously); Federal Reserve Beige Book
RegMed Investors (RMi) Closing bell: “cell and gene therapy sector equities ride the waves. Enjoying a period of success and share price appreciation. No summer doldrums here, as the sector ramped up with 7 positive closes (of my covered group) in a row, not seen in months.” … https://www.regmedinvestors.com/articles/13543
Q3/24:
- July: 1 market holiday. 1 day off, 2 negative, 1 neutral (previous Friday) and 7 positive 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.
Yet again, I am passing on forecasting the daily indications as I believe many equities have been on a dramatic and upside streak and potentially OVERBOUGHT that COULD be SOLD into by electronic trading focused as the aftermarket fluctuated while the pre-open waits for the all-clear alarm … it is still a mix of ups, downs and just unknowns.
The BOTTOM LINE: For the balance of the month, investors will focus most on share pricing!
STILL reiterating, “Every time, when I hear and read new highs – I say BYE!”
- Tuesday, Monday and Friday's rallies sent more sector gains.
″Breadth vs bubble’ is the number one debate in US equities. Narrow breadth often occurs in a bear market or when a few concentrated stocks drive the market into a bubble. However, we now think improving breadth should be the way for the S&P 500, rather than a recession or concentrated positioning, as our cycle indicators continue to rise over the last 5 quarters and the profit cycle is broadening beyond Nasdaq-100 stocks.” <strategist Manish Kabra, Societe Generale>
July week to date: advance/decline lines …
- Tuesday’s advance/decline line ended with a positive close of 30 incliners, 2 decliners and 3 flats
- (7/15) Monday ended with a positive close of 21 incliners, 9 decliners and 6 flats
- Friday ended with a positive close of 22 incliners, 11 decliners and 2 flats
- Thursday ended with a positive close of 31 incliners, 2 decliners and 2 flats
- Wednesday ended with a positive close of 23 incliners, 10 decliners and 2 flats
- Tuesday ended with a positive close of 19 incliners, 12 decliners and 4 flats
- (7/8) Monday ended positive 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
Watch for possible ‘wobble’ in S&P 500 starting Wednesday, analyst says …
Several times the stock market has begun to “wobble” starting on July 17. One of the strategist’s favorite indicators, the daily chart of triple momentum divergence, is suggesting “there is finally a danger that a pullback could be close. Maybe time to take a few chips off that table. <Tom Fitzpatrick, managing director for global market insights at R.J. O’Brien & Associates, a Chicago-based independent futures brokerage and clearing firm from CNBC>
Are we headed to a clash of algos and electronic trading regarding share pricing?
Due “dates” are DUE soon for Q2 LPS (loss per-share) boding releases:
- Sage Therapeutics (SAGE) on Wednesday, 7/31
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.
