13Apr10:27 amEST

V-A-X-X: Vaxx, Vaxx, Vaxx!

As @MylesUdland implied on Twitter this morning amid news of JNJ's vaccine being paused in American due to blood clot issues, perhaps this should have been expected. Then again, with all of the vaccines being rushed in just one year, when most vaccines can take up to a decade, we ought not be surprised at all to see setbacks. 

From a market perspective, the tape was expecting this, too, with a muted 2% move down in JNJ (when a genuine surprise to the market probably would have seen it down closer to 10%, even for a stodgy large cap pharma), and competitors like PFE slightly higher but not shock-and-awe limit up, or anything close to it.

Furthermore, even though the Dow is off by triple digits, the S&P is flat. As usual, the linchpin will be the small caps and tech, with the former slightly red and the IWM ETF still needing to hold $220, while the latter is nicely green, up 0.75% in the QQQ ETF as I write this. 

Should tech and growth manage another push higher, keep an eye on PLTR with their demo day tomorrow morning. This is a pretty big deal for the beaten-down name, seen below on its daily chart. And if the market is merely experiencing some indecision in lieu of an imminent collapse I think the stock has a good chance to spike. 

On that note, biotech has also been bludgeoned of late, seeing the IBB and XBI charts and have a ton of room for relief now that most traders (myself included) have been unimpressed by the market of late. 

You know, Sir, It's a Funny ... Stock Market Recap 04/13/21 ...


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