November 10, 2023 7:29am

The Nasdaq is just below their October highs, a natural place to hit resistance

I support Israel, mind, body and spirit

Veteran’s Day honors with appreciation all servicemen and service women who have served in ALL wars

Never leave an investor uninformed!

A plug, my first and probably only: Scott Mann (LtCol retired) Green Beret, Keynote Speaker, Leadership Coach has a book – “Operation Pineapple Express” that must be read and with a kindle version - Get it! Also, he is behind the play – “LAST OUT: Elegy of a Green Beret”. SUPPORT the MISSION and the CAUSE for a pal who “STOOD UP” when many scurried from the fray! <scottmann.com to learn more about his projects>

 

Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what could happen or materialize

 

The pre-open Dow futures are UP +0.14% or (+47 points), the S&P is DOWN -0.01% or (-1 points) as the Nasdaq is DOWN -0.16% or (-25 points)

Futures were mixed on Friday as week comes to an end,

European markets pulled back,

Asia-Pacific markets fell which would make it the worst performer this week among Asia’s major benchmarks.

 

Henry’omics:

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

During Thursday’s trading, the Dow dropped -220.33 or- 0.65%, the S&P 500 slipped -35.43 or -0.81%, and snapped its longest winning streak since 2021 while the Nasdaq declined by -128.97 or -0.94%, ending a nine-day string of wins — also its lengthiest run of gains in two years.

As the week winds down, the S&P 500 and the Dow are poised for modest losses of 0.3% and 0.5%, respectively. The Nasdaq has a modest gain of 0.3% week to date.

Economic Data Docket: University of Michigan consumer sentiment, November preliminary (64.0 expected, 63.8 previously)

 

Thursday’s - RegMed Investors (RMi) Closing Bell: sector fizzles following a Wednesday sputter … https://www.regmedinvestors.com/articles/13201   

 

Ebb and flow:

Q4: November – 4 positive and 3 negative closes

·         October – 1 sick day, 9 positive and 12 negative 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; it’s just too mixed of very few ups, followed by a weak aftermarket and few flats i.e., as markets fluctuate going nowhere but down … as hope is not a good strategy…

 

The BOTTOM LINE: I am in search of targets; bottoms and temporary highs?

  • I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
  • Reiterating, the rally that start in November — historically the strongest month for stocks of the year — resembles a bear market rally rather than a sign of market strength.

Today’s relevancy from Thursday’s session:               

  • Treasury yields spiked on a poor 30-year Treasury bond auction. Fed chief Jerome Powell followed up, saying the central bank is "not confident" that it's done enough to rein in inflation. <IBD>
  • Investors should be very cautious, holding to some positions and building cash if possible!
  • Market breadth was once again weaker

What the sector patterns and markets are telling me: buckle up

  • Sliding Treasury yields
  • Technical and fundamental support is missing,
  • A sentiment factor driven by algorithms and electronic trading,
  • The ongoing Israel-Hamas war has raised questions of a potential oil supply crunch and a resulting rise in fuel prices if the geopolitical instability spreads to neighboring oil producers in the region.

 

I hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I am more frequently right than consequentially wrong but, I am mostly EARLY!

 

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 its 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.