August 7, 2024 8:04am
… don’t get excited quite yet
The stock market rebounded Tuesday after several days of sharp losses, despite a late fade; now we waiting for a follow-through session to reduce the risk of buying-in too early for confirming uptrends
The drumbeat of earnings reports: Editas Medicine (EDIT), Caribou Biosciences (CRBU), Cellectis SA (CLLS) and Voyager therapeutics (VYGR)
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!
Wednesday: The pre-open Dow futures are UP +0.86% or (+337 points), the S&P futures are UP +1.21% or (+63 points) as the Nasdaq futures are UP +1.44% or (+255 points)
- Stock futures popped Wednesday after snapping a three-day losing streak.
- European markets recovered.
- Asia-Pacific markets rose following the rebound.
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 +294.39 points or +0.76%, the S&P closed UP +53.70 points or +1.04% while the Nasdaq closed UP +166.77 points or +1.03%
- Tuesday’s advance/decline line ended with a positive close of 23 incliner, 9 decliners and 3 flats
“The lingering question now is whether the concerns that pushed the market into a cascade of selling are alleviated. Pockets of volatility are expected to continue as August and September give way to a calmer seasonal period, however, it’s important to remember pockets of opportunity are always on the other side of the storm.” < LPL Financial chief global strategist Quincy Krosby>
Economic Data Docket: MBA Mortgage Applications, week ending Aug. 2 (-3.9% prior); Consumer Credit, June ($10.30 billion, $11.35 billion previously)
Tuesday’s RegMed Investors (RMi) Closing bell: “sector returns to an upside. Recovering some losses from the previous trading days as investors consider recession fears.” … https://www.regmedinvestors.com/articles/13571
Q3/24:
- August – 1 positive and 3 negative closes
- July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 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.
I am passing on forecasting the daily indications as expectations are in focus as expectation in 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: The stock market rally saw a bounce Tuesday after big losses in the prior three sessions. The major indexes all pared gains in the final hour, hitting resistance near Friday's lows.
- The Dow advanced 0.8% in Tuesday's stock market trading, hitting resistance at the 50-day line.
- The S&P 500 index climbed 1%.
- The Nasdaq rose 1% after bouncing off its 200-day line Monday.
- The small-cap Russell 2000 popped 1.2%, nearing the 50-day line after finding support at its 200-day on Monday. <IBD>
For the balance of the month, investors will focus most on share pricing bounce-back share pricing in and earnings EPS and meeting expectations!
- It’s tough to scale-back or even add sector holdings during earnings’ season, however buy points are a signal for exposure rendition.
Due “dates” for Q2 LPS (loss per-share) boding releases:
- AxoGen (AXGN) on Thursday, 8/8
- BioLife Solutions (BLFS) on Thursday, 8/8
- Intellia therapeutics (NTLA) on Thursday, 8/8
- Brainstorm Cell therapeutics (BCLI), Wednesday, 8/14
Watch the “numbers, charts and indicators” measure the daily, weekly, and monthly charts to filter out or lessen the noise of back-and-forth share pricing from the 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.
