Cantor Morning News | Healthcare

Healthcare generally outperformed a listless market. MRK,HSP,ABT,AGN,FRX all with decent percentage up days. Some device makers like MDT(earnings this morning), SYK,COV,BAX also all to the plus side. HMO's and Hospitals more in line with the averages, down a little bit. WCRX was the star of the day on the upside due to the special dividend. JAZZ the big loser, down 22% on Friday's FDA rejection of their fibromyalgia drug. Eric Kantor, Republican minority whip, commented that a Republican victory in the House in November would lead them to work to "defund the agencies responsible for implementing Healthcare".

Pfizer looks lower pre-open after late stage trial of Sunitinib fails to meet primary endpoint for treatment of advanced non-small cell lung cancer.

S &P 500 futures are presently below the 1060 level a 50% retrace of recent move. Look for 1050 level for next support level which is a 61.8 % retrace of most recent move. A breach of this level should accelerate a move towards the 1006 level.

VIX now well above its 200 m/a needs to break the 28.25 downtrend line to continue its momentum upward.

HMO Index appears to be in C wave of and a-b-c correction look for support in 1420 zone.

ABC completed a B wave symetrical triangle and has broken its 200 m/a of 28.70. Price target would be the $25 level.

COV had a shooting star pattern look for 29.20 as resisatance level.

Macro/Technicals

XLV: 28.8; .13; .45
PPH: 61.28; .4; .66
DRG: 268.83; 1.08; .38
HMO: 1455.45; 2.07; .14
BTK: 1065.17; -6.99; -.65

Leaders: WCRX,CVS,MRK,ZGEN,AGN,IPXL,PMC,GENZ
Laggards: SGMO,NBIX,MNTA,AUXl,EXEL,NABI,ALKS

Cantor Flows

Biotech/Pharma : PFE HSP NABI LLY XOMA

Healthcare Equipment & Services : BABY RAD TMO OCR SONO SIRO

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