Bull Radar

Style Outperformer:

• Large-Cap Value -.2%

Sector Outperformers:

• 1) Oil Service +1.7% 2) Steel +1.1% 3) Airlines +.9%

Stocks Rising on Unusual Volume:

• GPMT, TEAM, OMCL, BCEI, EXPE, SPSC, CY, GT, FIX, YUMC, INT, NATI, ULH, MHK, BJRI, NXPI, EHTH, ZBH, LRCX, CMG, AMZN, AMD, LPLA, SKYW, CINF, HF, NOV, EXPE, ICHR, LEXEA, FBHS, FTI, SKYW, DLR, SIVB and GPMT

Stocks With Unusual Call Option Activity:

• 1) MHK 2) CY 3) PSX 4) GT 5) LRCX

Stocks With Most Positive News Mentions:

• 1) CMG 2) EXPE 3) NXPI 4) CHK 5) MXIM

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running +13.7% Above 100-Day Average
• 6 Sectors Rising, 5 Sectors Declining
• 40.0% of Issues Advancing, 56.1% Declining
• 66 New 52-Week Highs, 21 New Lows
• 52.7% of Issues Above 200-day Moving Average
• Average 14-Day RSI 49.3%
• Vix 12.4 +2.3%
• Total Put/Call .9 +23.3%
• TRIN/Arms .72 -30.2%

Stocks Mostly Lower into Final Hour on Earnings Outlooks, Long-Term Rates, Technical Selling, Biotech/Tech Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 12.24 -.41%

• Euro/Yen Carry Return Index 134.8 -.49%

• Emerging Markets Currency Volatility(VXY) 10.02 +1.31%

• S&P 500 Implied Correlation 28.4 +5.6%

• ISE Sentiment Index 106.0 +2.9%
  

• Total Put/Call .75 -7.4%

• NYSE Arms 1.19 +21.7%

Credit Investor Angst:

• North American Investment Grade CDS Index 57.95 -2.74%
  

• America Energy Sector High-Yield CDS Index 367.0 -.49%

• European Financial Sector CDS Index 71.84 -5.58%

• Italian/German 10Y Yld Spread 230.0 +1.75 basis points
  

• Asia Pacific Sovereign Debt CDS Index 12.33 -3.15%

• Emerging Market CDS Index 164.59 -.95%
  

• iBoxx Offshore RMB China Corporate High Yield Index 149.04 +.14%

• 2-Year Swap Spread 19.0 -1.0 basis point

• TED Spread 34.50 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -4.5 -1.75 basis points

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 69.85 -.38%
• 3-Month T-Bill Yield 1.98% -1.0 basis point
  

• Yield Curve 29.25 +.5 basis point

• China Iron Ore Spot 66.95 USD/Metric Tonne +2.06%

• Citi US Economic Surprise Index -4.40 +1.0 point

• Citi Eurozone Economic Surprise Index -29.80 +3.0 points

• Citi Emerging Markets Economic Surprise Index -1.2 -.4 point

• 10-Year TIPS Spread 2.13 unch.
  
• 80.2% chance of Fed rate hike at Sept. 26th meeting, 81.3% chance at November 8th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +63 open in Japan 
• China A50 Futures: Indicating +38 open in China

• DAX Futures: Indicating -1 open in Germany

Portfolio: 

• Slightly Lower: On losses in my tech/biotech sector longs

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 75% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Growth -.8%

Sector Underperformers:

• 1) Gaming -2.5% 2) Gold & Silver -2.3% 3) Internet -2.1%

Stocks Falling on Unusual Volume: 

• ARD, NLSN, UNFI, FB, MHK, TSEM, NXPI, KNX, CLGX, SNBR, TAL, SVRA, TORC, HZO, ACIU, MLM, BC, CRI, PENN, DLX, MAT, NDLS and VC

Stocks With Unusual Put Option Activity:

• 1) EA 2) KKR 3) WPX 4) FB 5) NLY

Stocks With Most Negative News Mentions:

• 1) FB 2) TAL 3) MAT 4) DDD 5) QEP

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Value +.7%

Sector Outperformers:

• 1) Airlines +2.0% 2) Semis +1.7% 3) Agriculture +1.6%

Stocks Rising on Unusual Volume:

• BPI, SVU, YUMC, BEAT, WSC, BCEI, XLNX, PCMI, PQG, IIN, SPB, CAAP, LAD, WST, ADSW, YELP, AMD, COWN, JBT, IRS, AGS, ECHO, CSTM, ROCK, FCN, ANIK, AAN, PCRX, LDOS, ALK, HSY, HCLP, UHS, BANC, DHI, QCOM, DLB, GWB, TREE, ROP, PAG, BMS, LLL, HEES and UAA

Stocks With Unusual Call Option Activity:

• 1) SVU 2) OCN 3) ALLY 4) EA 5) XLNX

Stocks With Most Positive News Mentions:

• 1) AMD 2) XLNX 3) HSY 4) NOW 5) CMCSA

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running +25.4% Above 100-Day Average
• 9 Sectors Rising, 2 Sectors Declining
• 60.6% of Issues Advancing, 36.0% Declining
• 104 New 52-Week Highs, 18 New Lows
• 51.3% of Issues Above 200-day Moving Average
• Average 14-Day RSI 48.7%
• Vix 12.3 +.16%
• Total Put/Call .77 -4.8%
• TRIN/Arms 1.31 +33.8%