July 20, 2016 6:35am
…The oversold gap widens but, could it stimulate the fallen to a higher plateau?
Divergences between share pricing, indexes, ETFs and algorithms provide a moving target for the technical health of “our” universe
… What concerns me is the uncommon strength of some equities amid the marginal weakness of many
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Companies in the headlights: StemCells and JUNO
Indexes and ETFs: The IBB (+0.06%) and IWM (+0.51%) are UP and the XBI and XLV is NOT indicating
Dow futures are UP + 0.28% and NASDAQ futures are UP +0.29%
U.S. stocks futures climbed on Wednesday, setting the Dow on track for a seventh straight day in record territory.
European stocks extended gains, pushed higher by a rally in technology stocks as markets digested a slew of earnings, but mining stocks underperformed.
Asia markets lost some momentum, closing mixed, while Nintendo shares took a tumble after reports said the launch of the highly popular "Pokemon Go" app in Japan had been postponed
The stem, cell, gene and regenerative therapy (SCG&RT) sector closed NEGATIVE on Tuesday, POSITIVE on Monday and Friday, NEGATIVE on Thursday and last Wednesday.
The SCG&RT sector’s record after the last 5 days (of 43 covered companies):
- Tuesday closed NEGATIVE with 34 decliners, 7 advancers and 2 flats
- Monday closed POSITIVE with 18 decliners, 24 advancers and 1 flat;
- Friday closed POSITIVE with 13 decliners, 29 advancers and 1 flat;
- Thursday closed NEGATIVE with 22 decliners, 16 advancers and 5 flats
- Last, Wednesday closed NEGATIVE with 29 decliners, 13 advancers and 1 flat;
Remembering Tuesday’s post, “When stem, cell, gene and regenerative therapy sector stocks brings back the revolving door and negative sentiment which boils beneath the surface of the indexes, ETFs and algorithms; share pricing health takes a turn for the worse, usually leading to a correction and outright declines.”
- As I keep saying, further breakdown of support levels would keep open the door to much more negative day and week scenarios, including the possibility of eventual utter calamity.
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You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
- The iShares Nasdaq Biotechnology (IBB) closed Tuesday down -1.28% and is UP +0.06% in Wednesday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) closed Tuesday down -1.98% and is DOWN -0.09% in Wednesday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) closed down Tuesday -0.22% and is NOT indicating in Wednesday’s pre-market;
- The iShares Russell 2000 (IWM) closed Tuesday down -0.50% and is UP +0.51% in Wednesday’s pre-market.
Companies in my spotlight:
Juno Therapeutics (JUNO) closed DOWN -$1.04 to $27.47 after being down to $28.51(-$0.70) after being up on Friday at $29.21 (+$0.41). The aftermarket indication is DOWN -$0.06 – Maintaining SELL;
StemCells (STEM) closed DOWN -$0.01 to $0.37. STEM received two written notices from the NASDAQ indicating that the company was no longer in compliance with two (2) of NASDAQ’s continued listing requirements. In the first notice, NASDAQ indicated that, because the closing bid price for the Company’s common stock had been below $1.00 per share for the previous 30 consecutive business days. In the second notice, NASDAQ indicated that, because the Company’s Market Value of Listed Securities, as defined by NASDAQ ("MVLS") had been below $35 million for the previous 30 consecutive business days – SELL;
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
