Two major problems are reported that mean a significant setback for Intercept's lead OCA drug.

The revenge of the bulls continues as the bears are now pressed into proving their mettle at critical resistance from several 50-day moving averages. The major indices faded from 50DMA resistance, but it proved to be a temporary setback. Now, conditions seem aligned for a major breakout.

In this interview with The Life Sciences Report, Vernon Bernardino of MLV & Co. brings some clarity and perspective to investors who could reap windfalls from small-cap names in which shareholder value has yet to be created and realized.

Insider buying declined sharply last week with insiders buying $18.96 million of stock compared to $32.38 million in the week prior. Selling edged up a little with insiders selling $932.22 million of stock last week compared to $897.75 million in the week prior.

September E-mini S&Ps (ESU14 +0.29%) this morning are up +0.28% at a record high on optimism over the U.S. economic outlook and European stocks are up +0.32%.

T2108 has not made much progress since the last T2108 Update on August 19th. However, the S&P 500 (SPY) has. The bounce from oversold conditions continues in nearly a straight line.