E Market Briefing For Wednesday, June 17

  • The S&P pattern remains intact as we've outlined, with some risk returning in the later part of the week, and that may correlate if hospitalizations jump, although there is now (thankfully) a drug to prevent the worst, it's not at all a pleasant disease, and we know that survivors have secondary problems.
  • Some of this risk may be offset by Apple's (AAPL) WWDC, which will likely focus on Education, Artificial and Augmented Reality, and Healthcare in general, that might well shoot Apple's stock even higher, and is a major help for S&P.
  • Also (hoping) Apple announces a new iMac design as well as Apple TV 6th Generation (to support Dolby Atmos better with HDMI 2.1) and hints of new software, including maps, which really is part of business and personal lives, which is even more important as the private car preference returns.

In-sum: excessive optimism about an effective (thankfully) inflammation-drug of common availability for many years, helped what would be upside anyway early Tuesday (futures were strong overnight too). 

The market's pattern may not be sustainable, but persists as outlined for now.

Daily action - was satisfactory, and would have been higher even without the news about using a cortisone drug to inhibit inflammatory responses. It could be used in combination, but is not a new drug as such, but rather eliminates what I have called the 'prospect of death from the equation', hence it is clearly a plus.

Meanwhile, AT&T (T) has announced more layoffs, Amarin (AMRN) settled with one of the remaining 3 generics, which probably puts pressure on the remaining generic interlopers, but it's not clear cut as to how favorable today's settlement is.

So I'd think it helps AMRN's share-price firm a bit, but not enough to throw it into the 'teens. But if the bar is set, and the others come around, then the Appellate Court pending decision on possibly reversing the Federal Patent Judge's Ruling, becomes moot. Amarin should never have litigated against them in my view, but if they also win the appeal, it should be solid for some time to come. And yes it's Vascepa drug (which continues to deliver excellent results), may also show the world the broader capabilities when the results of the Evaporate Trial are out, which would suggest some benefit related to arterial plaque more directly.

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