Bear Radar

Style Underperformer:

• Small-Cap Growth -.5%

Sector Underperformers:

• 1) Homebuilders -3.5% 2) Gold & Silver -2.5% 3) Shipping -2.5%

Stocks Falling on Unusual Volume: 

• TUR, DY, BEDU, ALNY, TSG, PTLA, JKS, DDD, MTZ, OSTK, VFC, BZUN, FOLD, CORT, TRUE, LL, LJPC, FOLD and RUTH

Stocks With Unusual Put Option Activity:

• 1) EMB 2) TUR 3) AKS 4) FDC 5) RAD

Stocks With Most Negative News Mentions:

• 1) DY 2) BEDU 3) RAD 4) ALNY 5) GT

Charts:

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

Bull Radar

Style Outperformer:

• Large-Cap Growth +.1%

Sector Outperformers:

• 1) Telecom +.7% 2) Semis +.5% 3) Healthcare Providers +.3%

Stocks Rising on Unusual Volume:

• NLSN, IRMD, ELF, TCS, VSAT, SYY, SEND, IIPR, EGL, OMI, HIIQ, LXFT, OLED, GTT, HDP, NINE, OMER, CPA, RYAAY, IMPV, AMRX, ALTR, OSB, VRTV, XRAY, TCS, IOVA, TWTR, SQ, FNKO and BLFS

Stocks With Unusual Call Option Activity:

• 1) NLSN 2) FDC 3) TUR 4) NLY 5) EMB

Stocks With Most Positive News Mentions:

• 1) SYY 2) SPOT 3) PZZA 4) MYL 5) GWR

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -14.5% Below 100-Day Average
• 9 Sectors Rising, 2 Sectors Declining
• 48.3% of Issues Advancing, 47.2% Declining
• 32 New 52-Week Highs, 74 New Lows
• 51.9% of Issues Above 200-day Moving Average
• Average 14-Day RSI 47.9%
• Vix 13.1 -.7%
• Total Put/Call 1.31 +9.2%
• TRIN/Arms 1.67 +22.0%

Monday Watch

Today's Headlines

Bloomberg:     

• Turkey's Policy Making Paralysis Promises More Tumult in Markets.

• Losing Faith Fast, Istanbul Merchants Throw in Towel on the Lira.     

• Lira Extends Retreat as Turkey Heads Toward a Financial Crisis.

• China’s Giant Banks Top This Ranking. And That’s a Cause for Concern.

• Singapore's Economic Growth Eases to 0.6%, Lower Than Projected.

• Saudi Fund in Talks to Invest in Tesla(TSLA) Buyout Deal. Stocks, Euro Slip on Turkey Worries; Yen Gains: Markets Wrap. Stocks slipped in Asia with the euro and emerging-market currencies, with Treasuries and the yen nudging higher, as turmoil in Turkey that’s sparked wider concern of potential market contagion triggered action from banking regulators. Japanese stocks and U.S. equity futures fell, with trading set to be dominated by events in Turkey. President Recep Tayyip Erdogan maintained his defiance toward the U.S. and financial-market orthodoxy in speeches on Sunday even after the nation’s currency plummeted. The lira declined early Monday in Asia before recovering somewhat after the country’s banking regulator limited swaps transactions, triggering a slight easing to the risk-off mood in Asian trading. Japan’s Topix index slid 1.1 percent as of 9:20 a.m. in Tokyo. South Korea’s Kospi index lost 0.6 percent. Futures on Hong Kong’s Hang Seng Index dropped 0.7 percent. Australia’s S&P/ASX 200 Index sank 0.3 percent. Futures on the S&P 500 Index were down 0.2 percent. 

• Five Things You Need to Know to Start Your Day.

• Erdogan Defiant, the Next Recession, China's De-Risking: Eco Day.

Wall Street Journal: 

• Plane Thief Said He Trained on Games, Didn’t Plan to Land.

• Google Woos Partners for Potential China Expansion.

• U.S. Takes Trade Fight to Smaller Nations. 

• Private-Equity Firms Push Into Lending.

• In Orban’s Hungary, a Glimpse of Europe’s Demise.

MarketWatch.com:

• People are faking wheelchair need at airports to get through security faster.

• Jeff Reeves: S&P 500 is stalling, but these 3 sectors are scaling fresh highs like clockwork.

• Rumors of the death of the housing market may be exaggerated.

Fox News:

• Police unions call for NFL boycotts, refunds after latest anthem protests.

• Socialist Dems inspired by Sanders, Ocasio-Cortez suffer yet another blow.

• Counterprotesters, Antifa confront 'Unite the Right' at tense march as storm rolls in.

CNBC:

• Why one market bull predicts millennials, baby boomers will help the US notch an economic milestone.

• Trump applauds Harley Davidson boycott, says shift of production abroad is a 'really bad move'.   

• These 5 indicators suggest stocks will break out to new highs.

Zero Hedge:               

• Turkish Lira Crashes Through 7 As Erdogan Threatens To Unleash "Plan B Or C...".

• 72% Of Americans Say It's "Essential" For US To Be World Space Exploration Leader.

• Social Unrest Breaks Out In China After "Panic" Bank Run On Peer-2-Peer Lenders.

• Facebook Brags They Can Change 'Any Public Opinion'.

• Capital Controls Next? Lira Rebounds After Turkey Bank Regulator Limits FX Swap Operations.

• In Furious Rant Erdogan Lashes Out At Trump: "We See The Game You're Playing, We Dare You".

• Infowars Website Traffic Explodes After Silicon Valley Blacklists Alex Jones Empire.

• Mapping The 22 Cities With The Most Million-Dollar Homes In America.

• "A Devastating Scenario": Brazil Breaks Own Record For Number Of Murders, Ahead Of Election.

• 20 Shot Overnight In Chicago: "I’m Scared To Walk To The Corner Store".

Business Insider:

• 'Once it starts, it escalates': Crime is rising in Mexico City, and police are trying to swoop down on it before it gets worse.

Telegraph:

• The Brexit jobs bloodbath that never arrived.

Night Trading

• Asian indices are -1.0% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 83.75 +3.75 basis points.

• Asia Pacific Sovereign CDS Index 10.5 +.25 basis point.

• Bloomberg Emerging Markets Currency Index 65.75 -.33%.

• FTSE 100 futures -.25%

• S&P 500 futures -.24%.

• NASDAQ 100 futures -.26%.

Morning Preview Links

Earnings of Note

Company/Estimate
Before the Open:

• (JKS)/.33

• (SYY)/.93

• (TSG)/.55

After the Close:

• (TDW)/-.42

• (VIPS)/.94

• (YY)/1.88

Economic Releases

• None of note

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Monthly OPEC Oil Market report and the German Wholesale Price report could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by financial and industrial shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon.  The Portfolio is 25% net long heading into the week.

Weekly Outlook

• Wall St. Week Ahead by Reuters. 
• Week Ahead by TheStreet.
• Stocks to Watch Next Week by Seeking Alpha.
• Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week modestly lower on European/emerging markets debt angst, oil weakness, emerging markets currency weakness, trade war fears, yen strength, profit-taking and technical selling. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 25% net long heading into the week.

Today's Headlines

Bloomberg:     

• Erdogan Defiant as Turkey Slides Toward Financial Crisis. 

• Trump Hails Nafta Talks With Mexico, Says Canada Must Wait.

• Trump Says Sessions `Scared Stiff and Missing in Action’ on Russia Probe.

• As Turkey Crisis Deepens, Bankers to Review Impact of Shocks. 

• Turkey Crisis in Charts: Worse Than Lehman, Similar to 1998.    

• Turkey’s Meltdown Ripples Across Emerging Markets: Inside EM.

• Inflation Is Coming to Theater Near You as U.S. Companies Flex Pricing Power. 

• China Car Sales Drop Accelerates on Slowing Economy, Trade War. 

• Tesla’s(TSLA) Amazing. Tesla’s Horrible.

Wall Street Journal:

• Uranium Market Shows Signs of Life.

• 12 Charts That Explain Turkey’s Crisis.

• Social Networks Can’t Afford to Lose Too Many Friends.

MarketWatch.com:

• S&P 500 is stalling, but these 3 sectors are scaling fresh highs like clockwork.

CNBC:

• 'Rudely trampling on international trade rules': Chinese media beat drum against US.

• Trump says progress made toward trade deal with Mexico, but 'Canada must wait'.

• Satya Nadella unloads 30% of his Microsoft common stock in his biggest sale as CEO.

• Turkey fallout could continue to hit global markets, as Erdogan 'hangs tough'.

• Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal.

Zero Hedge: 

• Trump Condemns "All Types Of Racism" Ahead Of "Unite The Right" Rally

• "US Risks Completely Losing Turkey": Erdogan Vows To Defy US "Threats" Over Pastor Brunson

• Seattle Airport Employee Hijacks Plane, Does Barrel Roll, Then Crashes With F-15's In Hot Pursuit.

• "Free, Independent" Boston Paper Urges Collusive National Media 'War' Against Trump.

• Saudi Sovereign Wealth Fund Shows "No Interest" In Tesla LBO.

• The Freedom Of The Press: George Orwell On The Media's Toxic Self-Censorship.

• Schlichter: 'The Elite' Freaks Out When Trump Puts Americans First.

• Monsanto Slammed With $289 Million Verdict In Historic 'RoundUp' Cancer Lawsuit.

• In Shocking UN Accusation, China Said To Hold 1 Million Uighur Muslims In "Massive Internment Camps".

• The Real Victim Of Social Media Censorship Is Personal Responsibility.

• The Grand Irony Of RussiaGate: The US Becomes More Like The USSR Every Day.

• Turkey Could Create A Larger Crisis Than Greece.

• US Spending On Interest Hits All Time High As Budget Deficit Soars To $684 Billion.

• Turkish Lira, Stocks Jump After Jay Sekulow Says "Close To Resolution" On Pastor Brunson.

• Scientist Blasts Media "Misinformation" Linking Wildfires To Global Warming.

• Weekend Reading: Why We Don't Talk Anymore.

• Istanbulldozed!