what they are considering weak guidance. >> for more analysis of the earnings, let's bring back chris verrones over at the plasma. >> we actually like the group and i recognize amgen is down modestly after hours when we put this 2% decline in some context and look at the longer term chart here, what we really see with amgen over the last three years is a series of high or lows 140, 150 we now think that 180 level is key. on any pullback we've got to hold 180 and i think ultimately you can move toward a breakout above the 200 level. importantly, the stock is actually improved some relative to the s&p now, our favorite biotech name in the whole space is regeneron. it's on the verge of breaking out. it's already done it in relative terms. when you start to pick apart the pieces within biotech we finding names like this one exhibiting relative leadership. we want to be long here. on theother side, there's some misses here. i think the move here in abbvie recognizes how bifurcated the space is i think importantly you've rappelled right at the downward sloping 200-day average. new lows, failing at

and these are -- chris verrone, this is a textbook chart, and as mr.tioned him last hour, this is not president xi's friend, is it? >> it's been a bear market in chinese stocks since the early part of 2018. tom: well contained, well behaved, signaling south, right? >> and nor have we seen the price action in this market that often marks it -- tom: thank you. you set me up beautifully. christopher verrone, how do you have this kind of action in a totalitarian regime? he and i have been doing this for years. can you do that in the strange regime of china? >> well, beijing would like to be ard to order the stock market around. tom: thank you. >> but they have limited ability to do so. tom: i think this is a huge issue, francine. i mean, how do you have a cathartic move? what's your experience on this, chris? >> perhaps you have it away from chinese stocks. if you look at all the things related, whether it's samsung or apple or copper or the european luxury names, maybe that's where the capitulation needs to evidence itself to stay sa say that we've put in