Bear Radar

Style Underperformer:

• Small-Cap Value -.4%

Sector Underperformers:

• 1) Video Gaming -1.1% 2) Biotech -.9% 3) Road & Rail -.9%

Stocks Falling on Unusual Volume: 

• ASMB, ADS, CLVS, ZGNX, HG, BILI, BBBY, TLRY, HRTX and MMLP

Stocks With Unusual Put Option Activity:

• 1) ITCI 2) AET 3) LNG 4) DF 5) BX

Stocks With Most Negative News Mentions:

• 1) ASMB 2) FCEL 3) QHC 4) CE 5) BLK

Charts:

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

Bull Radar

Style Outperformer:

• Large-Cap Growth -.1%

Sector Outperformers:

• 1) Computer Hardware +2.4% 2) Healthcare Providers +1.2% 3) Agriculture +.6%

Stocks Rising on Unusual Volume:

• ADSW, EFII, VEC, BOOM, TARO, APC, ADNT, HOV, CTLT, WTW, DIS, TIGR, CVLT, BGG, CARA, MTCH, UNH, NSSC, BPTH, MDSO, BHVN, AXSM, ZAYO, AUTL and PXD

Stocks With Unusual Call Option Activity:

• 1) OXY 2) URBN 3) ZAYO 4) ZEN 5) CXO

Stocks With Most Positive News Mentions:

• 1) EFII 2) CTLT 3) ADSW 4) BHVN 5) LEVI

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -7.6% Below 100-Day Average
• 4 Sectors Rising, 7 Sector Declining
• 42.0% of Issues Advancing, 54.1% Declining
• 102 New 52-Week Highs, 17 New Lows
• 58.3% of Issues Above 200-day Moving Average
• Average 14-Day RSI 54.0%
• Vix 12.7 +5.8%
• Total Put/Call .87 +19.2%
• TRIN/Arms 1.14 +6.54%

Monday Watch

Today's Headlines

Bloomberg:  

• China to Maintain Prudent Monetary Policy, PBOC’s Chen Says.

• Betting on a Soft Landing: the Takeaways From the IMF Meetings.

• French President Macron to Address the Nation on Monday.

• Asia Stocks Gain as Profits, China Data Ease Worry. Asian stocks began the week on a mostly positive note after earnings and Chinese economic data eased concerns about a slowdown in global growth Friday, lifting U.S. shares and Treasury yields. Japanese shares posted the largest gain early Monday, with equities in South Korea also higher and Aus
  tralia opening flat. The S&P 500 Index on Friday climbed to within 1 percent of reaching a new all-time high. Australian bonds fell, tracking the drop in Treasuries prior to the weekend. The dollar steadied with Treasuries and oil started the week with a modest decline.
  Japan’s Topix index rose 1.5 percent as of 9:03 a.m. in Tokyo. South Korea’s Kospi index advanced 0.5 percent. Australia’s S&P/ASX 200 Index rose 0.1 percent. S&P 500 futures were little changed. The index increased 0.7 percent Friday.  

• Global Soft Landing, Trump Attacks Fed, Goldman on 2020: Eco Day.  

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

• President Trump Slams Fed Again, Says Stocks Should Be 5,000-10,000 Higher .

• Goldman Economists Say Trump Re-Election More Likely Than Not. 

• Kamala Harris Shows Income Topping $2 Million on Tax Return   

• Tiger Woods Wins Masters, Reclaims Title of Golf's Biggest Star.

Wall Street Journal:

• The Establishment Coup Against Brexit.

• Global Markets Rally Defies Dimming Economic Outlook.

• Publicis Expands Access to Consumer Data With $4.4 Billion Deal.

• Congestion Pricing Could Turn Manhattan Into Pedestrian Paradise. 

• In New Ebola Outbreak, Health-Care Workers Come Under Attack.

• White House Fully Reviewing ‘Sanctuary Cities’ Idea.

• Students, Grads May Be Next Targets of Admissions Scandal.

• Trump’s Fed Attacks Cast a Chill at Global Finance Gathering.

• White House Weighs Broader Immigration Curbs.

• Contract Drug Manufacturer Catalent to Buy Paragon Bioservices in $1.2 Billion Deal.

MarketWatch.com:

• Spring is here — and that probably means a reinvigorated U.S. economy.

Fox News:

• Sanders rips liberal think tank after YouTube video he says is ‘smearing’ him, other 2020 hopefuls.

• Politicians are pushing to have this city become the 51st state.

CNBC:

• The Disney(DIS)+ launch kicks off Game of Thrones for streaming services.

• American Airlines cancels all 737 Max flights through the summer.

• Huawei is ‘open’ to selling 5G chips to Apple for iPhones, marking a big shift in strategy.

Zero Hedge:        

• Cory Booker Admits Releasing Migrants In Sanctuary Cities Would "Make Us Less Safe".

• Harvard Test-Taking Whiz At Center Of College Admission Scandal Pleads Guilty.

• Lumber & Copper Prices Are Diverging – Which Is Signal & Which Is Noise?

• Conservative Journalist Ejected From Bernie Sanders Rally With No Explanation.

• College (As We Knew It) Is Broken In The USA.

• Kim Jong Un Appoints More Generals In Military Shakeup While Extending Hand To Trump.

• An Interview With The Most Powerful Man On Wall Street.

• Google's(GOOG) Wing Launches Commerical Drone Delivery Service In Australia.

Business Insider:

• Morgan Stanley, Goldman Sachs, and all 27 other banks working on Uber's mega-IPO.

• Italy's economy is one of the biggest downside risks to the global financial system and could spell disaster for Europe. 

• Cory Booker's half-full kickoff rally could be miserable news for the future of his campaign.

• Saudi women abandon their babies on the street if they give birth while unmarried.

Night Trading

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

• Asia Ex-Japan Investment Grade CDS Index 64.5 -1.0 basis point.

• China Sovereign CDS 41.25 -2.25 basis points.

• Bloomberg Emerging Markets Currency Index 67.56 -.03%.

• FTSE 100 futures +.16%.

• S&P 500 futures -.06%.

• NASDAQ 100 futures -.06%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (C)/1.79

• (GS)/5.02

• (MTB)/3.29

After the Close:

• (JBHT)/1.25

• (PNFP)/1.21

Economic Releases
8:30 am EST

• Empire Manufacturing for April is estimated to rise to 8.0 versus 3.7 in March.
  

4:00 pm EST

• Net Long-Term TIC Flows for Feb.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The World Vaccine Congress could also impact trading today.

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to strengthen into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the week.

Weekly Outlook

• Wall St. Week Ahead by Reuters. 

• Weekly Market Outlook by Yahoo. (video)

• 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 mixed as China trade deal hopes, diminishing global growth fears and earnings optimism offset technical selling, Brexit concerns and profit-taking. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.

Today's Headlines

Bloomberg:       

• Mnuchin Says U.S. Open to Facing Penalties in China Trade Deal.

• Global Finance Chiefs Prepared to `Act Promptly' on Growth.

• Draghi Expresses Concern Over Fed's Independence.

• Trump Backs Third Summit With Kim, Says Relations ‘Very Good’.

• Japan Warns G-20 That Global Economy Still Faces Downside Risks. 

• IMF Warns Policymakers to ‘Do No Harm’ as World Economy Wobbles.

• China Isn't Ready for Iron-Ore Deficit, Steelhome's Wu Says.   

• Oil Bullishness Is at 2019 High as Rally Shows Signs of Sticking.  

• Your Weekend Reading: Disney’s Big Plus.

• Musk Says Panasonic Battery Cell Lines Constraining Tesla(TSLA) Output.

• Bernie Sanders Calls on Trump to Abandon New Nafta Agreement.

Wall Street Journal:   

• Mnuchin Says Trade Talks With China Near Final Round.

• Chevron(CVX) to Buy Anadarko Petroleum(APC) in a Big Bet on Shale.

• Russiagate and the Media’s News Denial.

• Legal Pot Sales Are Off to Slow Start in Canada.

• Global Competition Takes Toll on Uber’s Growth Ahead of IPO.

Barron's:

• Had bullish commentary on (CVS), (DHR), (BLL), (CXO), (NBL), (FANG) and (ALC).

MarketWatch.com:

• Disney launches $6.99 streaming service, but will Netflix fans go for it?

Fox News:

• Ex-Clinton aide leading ‘dark money’ effort to oust justice from teaching gig.

• Some say Trump's sanctuary city idea could actually help migrants stay in US.

CNBC:

• Netflix(NFLX) CEO Reed Hastings to depart Facebook board of directors.

• Alan Greenspan says economy will start to fade ‘very dramatically’ because of entitlement burden.

• Some optimistic corporate outlooks in the week ahead could lift the stock market to a record.

• Jamie Dimon says the US economic expansion ‘could go on for years’.

• Why oil giant Chevron is buying Anadarko Petroleum for $33 billion 

• President Trump announces new 5G initiatives: It’s a race ‘America must win’.

Zero Hedge:  

• Rep. Omar Virtue Signals With "No Ban Act" - Except Obama's Travel Bans Were 16x That Of Trump's.

• A War Has Broken Out In The VIX Complex.

• Demographic Doom? The Number Of Children Per Household Is Collapsing.

• "Big Brother Is Watching": Facebook 'Accidentally' Includes Secret Orwellian Messages On VR Controllers.

• Trump Signs Ambitious EMP Preparedness Executive Order.

• What Divides Brexiters And Remainers?

• California Judges Hand Trump Rare Court Win By Allowing Return Of Migrants To Mexico.

• Watch: 5G Smart Cows Milked By Robots In England.

• "That's Something China Can't Tolerate": Tensions Erupt As China Slams Australia's "Irresponsible Comments".

• Confidence In Higher Education Plummets: Gallup.

• Investigation Nation: Mueller, Russiagate, & Fake Politics.

• Only In China: A Pyramid Scheme Involving Actual Pyramids.

• Georgetown Students Approve Mandatory Fee For Slavery Reparations.

• Disney, Dimon, & A China Debt Surge Lift Stocks As Economic Data Collapses.

Business Insider:

• The cost of keeping Mark Zuckerberg safe rocketed to a massive $20 million after Facebook's year from hell.

The Telegraph:

• Eurozone factories stuck in longest slump since debt crisis.