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The five-year chart of the NASDAQ illustrates that is has run into a zone of rather formidable resistance and it appears to have put in a triple top formation. Triple top formations are usually followed with substantial declines. Also, a series of negative divergence signals have been generated; our technical indicators confirmed none of the recent new highs.
Things are certainly heating up, and it will be interesting to see where the markets are trading 3, 6 and 12 months from today. However, for now, we feel that the markets still need to let out a bit more steam before a sustainable bottom is in place.
The drug research study looked at 30 COVID-19 patients, half of whom received the medicine. After seven days, 13 of the patients who were on
the drug tested negative, compared to 14 people who weren’t on it.
Significantly, one of the patients on it went on to develop severe
illness, while the median time taken for the individuals to recover was
similar in both groups.
It should be noted that the sample size is considered too small to be statistically significant.
The French study triggered heightened global interest in hydroxychloroquine, and a related compound called chloroquine, which are
synthetic forms of quinine and have for decades been used to treat
malaria, as well as rheumatoid arthritis and lupus.
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