Bear Radar

Style Underperformer:

• Large-Cap Growth -.2%

Sector Underperformers:

• 1) Tobacco -1.7% 2) Telecom -1.5% 3) REITs -.9%

Stocks Falling on Unusual Volume: 

• RGNX, LL, PGR and APLS

Stocks With Unusual Put Option Activity:

• 1) LQD 2) KEM 3) AVGO 4) OSTK 5) ADVM

Stocks With Most Negative News Mentions:

• 1) TLRA 2) CBOE 3) WORK 4) XEL 5) TWTR

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Value +.7%

Sector Outperformers:

• 1) Banks +1.8% 2) Road & Rail +1.6% 3) Agriculture +1.5%

Stocks Rising on Unusual Volume:

• MDLA, KEM, CARS, LCI, DAN, AGS, RMBS, RCG, IGT, GEL, MDC, SHLX, OI, NS, TGI, DCP, CQP, CEQP, INGN, REVG and ENBL

Stocks With Unusual Call Option Activity:

• 1) RMBS 2) SGMS 3) BHGE 4) PHM 5) LYB

Stocks With Most Positive News Mentions:

• 1) NET 2) MDC 3) KEM 4) AVY 5) BITA

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +4.9% Above 100-Day Average
• 8 Sectors Rising, 3 Sectors Declining
• 53.0% of Issues Advancing, 45.0% Declining
• 96 New 52-Week Highs, 6 New Lows
• 62.5% of Issues Above 200-day Moving Average
• Average 14-Day RSI 53.0%
• Vix 13.5 -4.9%
• Total Put/Call .85 +1.19%
• TRIN/Arms .80 -38.9%

Friday Watch

Night Trading 

• Asian equity indices are +.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 55.5 -1.0 basis point.

• China Sovereign CDS 37.75 -1.0 basis point.

• Bloomberg Emerging Markets Currency Index  66.11 +.01%.
• FTSE 100 futures +.21%.

• S&P 500 futures +.08%.

• NASDAQ 100 futures +.15%.

Morning Preview Links 

Earnings of Note 

Company/Estimate

Before the Open:

• None of note

After the Close:

• None of note

Economic Releases

8:30 am EST

• The Import Price Index MoM for August is estimated to fall -.5% versus a +.2% gain in July.
• The Import Price Index ex Petro for August is estimated to fall -.1% versus unch. in July.
• The Export Price Index MoM for August is estimated to fall -.3% versus a +.2% gain in July.
• Retail Sales Advance MoM for August is estimated to rise +.2% versus a +.7% gain in July.
• Retail Sales Ex Autos MoM for August is estimated to rise +.1% versus a +1.0% gain in July.
• Retail Sales Ex Autos and Gas for August is estimated to rise +.2% versus a +.9% gain in July.

10:00 am EST

• Preliminary Univ. of Mich. Consumer Sentiment for Sept. is estimated to rise to 90.8 versus 89.8 in August. 
• Business Inventories for July is estimated to rise +.3% versus unch. in June.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Japan Industrial Production report and Bloomberg US Economic Survey for Sept. could also impact trading today.

BOTTOM LINE: Asian indices are modestly higher, boosted by financial and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.

Bull Radar

Style Outperformer:

• Large-Cap Growth +.8%

Sector Outperformers:

• 1) Steel +2.1% 2) Gaming +1.8% 3) Homebuilders +1.7%

Stocks Rising on Unusual Volume:

• IMXI, MRNA, UGLD, LGND, RDUS, RGNX, FNKO, PDP, CHD, ERJ, VAR, RH, EIDX, LKQ, AYX, YELP, REVG, LX, CDLX, MLNX, EHTH, ZTO, ECH, XERS, TPB, CCS and TWLO

Stocks With Unusual Call Option Activity:

• 1) LKQ 2) XLB 3) LEN 4) ORCL 5) APC

Stocks With Most Positive News Mentions:

• 1) ABBV 2) MRNA 3) BX 4) ATVI 5) SHW

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running +26.0% Above 100-Day Average
• 10 Sectors Rising, 1 Sector Declining
• 51.0% of Issues Advancing, 46.3% Declining
• 120 New 52-Week Highs, 7 New Lows
• 62.9% of Issues Above 200-day Moving Average
• Average 14-Day RSI 53.5%
• Vix 14.1 -3.2%
• Total Put/Call .72 -5.3%
• TRIN/Arms 1.22 +52.5%