REG

Underperforming without a clear catalyst yet

• REG −0.28% on the last session vs SPY +0.74%: −1.0 pts of stock-specific move.
• Aftermath, rsi oversold (Oct 2): After its 8 oversold readings in the past 5 years, REG typically gained 3.5% over the next month (median) and was higher 75% of the time; half the outcomes fell between +1.9% and +5.2%. An ordinary month: +0.3%. Among S&P 500 stocks after oversold readings, that ranks #42 of 495.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.