© 2020
News services reported today that
the WHO inadvertently released draft documents on a Chinese clinical trial of remdesivir
that was terminated early due to low enrollment. The WHO in existence since 1948, with 7,000
people in 150 plus offices worldwide.
Inadvertent? Accidental? With this many years of experience and
this large of an organization, does anyone know of any other instances of inadvertent
or accidental posting of draft documents on clinical trials during a pandemic?
At
12:44 pm ET the SPX was at 2,835 when news a Financial Times
article, citing WHO documents, suggesting a Chinese trial of GILD’s remdesivir
was not effective drove GILD stock down $6.73
or -8.11% in
three minutes. In that same three minutes
the SPX fell 38 points to 2,797.
While that low became support for the day, the SPX which had been
up 45 points had lost its momentum
and closed down -1.51 points. GILD was -3.53,
-4.34% for the day.
GILD
response indicated results were inconclusive and the trial was terminated early
due to low enrollment.
After
the close INTC -3.54, -6.00%, fell on a negative EPS reaction, while the industry ETF
SMH was down -2.05, -1.59%.
Five
of eleven
sectors were higher on Thursday, led by XLE,
XLI and XLC
SPY down .02 at 279.08 on 104.7 million shares, below average volume, unchanged
on higher volume.
VIX down .60 at 41.38
XOM, UNH, CVX led the DJIA, 15 advancers, -13
LVS, APA, ODFL, ADS led the SPX, 268 advancers
SIRI, NTAP, EXPE, TCOM led the NDX, 42 advancers
The two-year trend term
is up.
A new uptrend has
emerged following a higher low W pattern reversal. 3-day short term trend is a bull flag bounce
and is down.
Up: IWM, DIA,
Down: SPY, QQQ,
Breadth weakened
on Thursday as advancers led 1,818 to 1,134 on the NYSE and led 1,935 to 1,301 on the NASDAQ
The SPX
MFC green line is pointed up at 81 and is a short-term
bullish.
Uptrend sectors: XLV, XLP, XLK, XLY, XLB, XLC,
Neutral sectors:
XLU, XLRE, XLI, XLF, XLE,
Down trend sectors:
The 6-month intermediate
trend is down. The ten-day trend is up.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
42 of 100 NDX stocks
closed higher on Thursday.
92 NDX stocks are above their 30 DMA: CTXS, SGEN, AMZN,
CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA,
ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD,
KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN,
ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY,
FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY,
XEL, ADBE, ALGN, TSLA, BMRN, GILD, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC,
EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 5
CMCSA,
CPRT, NTAP, SIRI, TCOM,
Moving Below 30 DMA = 2
DLTR, WDC,
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