November 24, 2017 3:13pm
Sector equities finished with a strong gain
And a set-up for the overbought
How right does one have to be? You could and should be reading this review of the day’s share pricing activity?
Is the truth so hard to fathom – that’s why my readership has grown exponentially!
Friday’s results have implications to Monday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s newsletter, “thin trading expected again. Is there a “Black Friday” for sector equities? It isn’t about discounts to some “cheap” pricing; skip Wednesday’s “trading toys” in the sector sandbox.”
Trading activity after Thanksgiving was less than half of what it is during normal trading periods. Average daily volume at the main exchanges for non-holidays is around 7.8 billion shares, compared with less than half that volume on average on the trading day immediately after Thanksgiving over the past several years.
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The open was neutral with an A/DL of 20/20 and 3 flats ;
· The early close was positive with an A/DL of 24/15 and 4 flats;
Some of MY working trend lines or indications:
… The greatest volume to the downside: XON, SGMO, IMUC, ADRO and BLCM
… Upside volume was weighted to: NWBO, JUNO, CYTX, MDXG and ONVO
… Biggest $ downside: XON (-$0.29), STML (-$0.25), SGMO (-$0.25), OSIR (-$0.13) and VCEL (-$0.10)
… Largest $ upside: JUNO (+$2.52), BLUE (+$0.60), QURE (+$0.59), AXGN (+$0.35) and MDEXG (+$0.23)
… Flat: PSTI, RENE.L, CAPR and AST
Daily analytics:
Retailers were in focus amid the Black Friday shopping holiday, a day after domestic markets were closed in observance of Thanksgiving.
· The Dow added 31.81 points, or 0.1%, to 23,557.99.
· The S&P 500 gained 5.34 points, or 0.2%, to 2,602.42, closing at a record.
· The NASDAQ advanced 21.80 points, or 0.3%, to 6,889.16, also clinching an all-time high.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Friday traded at 9.65, down -2.33% …
- Thursday was turkey day, Wednesday traded at 9.98, up +1.54% followed Tuesday trading at 9.72, down -8.54% while Monday traded at 10.65, down -6.82% and last Friday traded at 11.33, down -2.81% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Friday was up +0.04%
· Thursday was holiday
· Wednesday -0.13%
· Tuesday +1.05%
· Monday +0.72%
· Last Friday +0.43%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Friday was up +0.04%
· Thursday was holiday
· Wednesday was up +0.58%
· Tuesday +0.77%
· Monday -0.93%
· Last Friday +0.13%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
Friday’s decliners ranged from -0.31% <VTGN -$0.0027> to -0.17% <RGNX -$0.05> in 25 equities;
· Thursday was turkey day
· Wednesday’s decliners ranged from -0.03% <BLUE -$0.05> to -10.26% <IMUC -$0.035> in 16 equities;
· Tuesday’s decliners ranged from -0.14% <BSTG -$0.00> to -21.03% <NWBO -$0.06> in 22 equities;
· Monday’s decliners ranged from -0.13% < QURE -$0.02> to -6.43% <MDXG -$0.76> in 24 equities;
· Last Friday’s decliners ranged from -0.33% <QURE -$0.05 > to -0.65% <BSTG -$0.005> in 15 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Friday’s gainers ranged from +0.11% <ONCE +$0.08> to +8% <NWBO +$0.02> in 24 equities;
· Thursday was a holiday;
· Wednesday’s gainers ranged from +0.80% <MESO +$0.04> to +12.90% <CYTX +$0.044> in 26 equities;
· Tuesday’s gainers ranged from +0.03% <IMUC +0.00 > to +20.74% <KOOL +$0.67> in 19 equities;
· Monday’s gainers ranged from +0.46% < FATE +$0.02 > to +32.42% <NWBO +$0.07> in 19 equities;
· Last Friday’s gainers ranged from +0.17% <SGMO +$0.02 > to +18.34% <NWBO +$0.034> in 26 equities;
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.
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.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
