Bear Radar

Style Underperformer:

• Large-Cap Growth +.1%

Sector Underperformers:

• 1) Education -2.2% 2) Telecom -.9% 3) Agriculture -.7%

Stocks Falling on Unusual Volume: 

• CUK, ATRO, CCXI, TGI, NYCB, PRSP, VREX, DOMO, GBCI, BNFT, ACTT and DDS

Stocks With Unusual Put Option Activity:

• 1) COG 2) MTDR 3) UPS 4) LEN 5) GILD

Stocks With Most Negative News Mentions:

• 1) FCEL 2) CAI 3) WFC 4) PFE  5) BTHR

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +1.3%

Sector Outperformers:

• 1) Homebuilding +3.7% 2) Disk Drives +1.7% 3) Alt Energy +1.6%

Stocks Rising on Unusual Volume:

• EQM, QDEL, MNTA, BSIG, IRBT, COOP, HXL, DKNG, PRVB, CLDR, UNVR, ZYXI, ZUO, SWBI, ACEL, NET, IMVT, GRPN, TECD, SMCI, APG and CUE

Stocks With Unusual Call Option Activity:

• 1) ANGI 2) DISH 3) IRBT 4) GNUS 5) AM

Stocks With Most Positive News Mentions:

• 1) IRBT 2) GNUS 3) LEN 4) TWLO 5) SHOP

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -1.6% Below 100-Day Average
• 0 Sectors Rising, 11 Sectors Declining
• 23.6% of Issues Advancing, 74.7% Declining
• 10 New 52-Week Highs, 3 New Lows
• 20.8% of Issues Above 200-day Moving Average
• Average 14-Day RSI 50.1%
• Vix 39.2 +8.3%
• Total Put/Call .92 -5.2%
• TRIN/Arms 1.13 +157.0%

Monday Watch

Night Trading

• Asian indices are -1.25% to -.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 93.0 +2.25 basis points.
• China Sovereign CDS 53.75 +5.5 basis points.
• Bloomberg Emerging Markets Currency Index 60.90 -.06%.
• FTSE 100 futures -.5%.
• S&P 500 futures -1.25%.
• NASDAQ 100 futures -.7%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (JKS)/1.00

After the Close:

• None of note

Economic Releases
8:30 am EST

• Empire Manufacturing for June is estimated to rise to -30.0 versus -48.5 in May.

4:00 pm EST

• Net Long-Term TIC Flows for April.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The BoJ rate decision, India trade balance report, Raymond James Human Health Conference and the ISI Virtual Consumer/Retail Summit could also impact trading today.

Market Hours

Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are modestly lower, weighed down by commodity and financial 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.

• Global Economy Week by Bloomberg. 

• The Week Ahead by Yahoo. (video)

• 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 global recession fears, coronavirus second wave worries, oil weakness, rising Biden presidency odds, European/Emerging Market/US High-Yield Debt Angst and technical selling. My intermediate-term trading indicators are giving bearish signals and the Portfolio is 25% net long heading into the week.

Today's Headlines

Bloomberg:

• Beijing Shuts Biggest Vegetable Market After 45 Covid-19 Cases.

• U.S. Cases Rise at Two-Week High; Brazil’s Deaths: Virus Update.

• Florida Covid-19 Cases Rise 3.6%, Biggest One-Day Jump.  

• OPEC Gets Chance to Gain Upper Hand in Long Battle With Shale.  

• Robinhood Market Made Bursting Bubbles Wall Street’s Obsession.  

• Hong Kong’s Rich Are Preparing for a Worst-Case Scenario.

Wall Street Journal:

• Hotels Are Reopening. Will Guests Have Any Reservations?

• Auto Makers’ Reopening Complicated by Worker Absences Amid Covid Cases.

• The Covid Age Penalty.

• David Axelrod, Truth Teller.

• Protesters in France, U.K. Seek Police Overhauls.

• King Dollar Is a Deadly but Dangerous Trump Card in U.S.-China Fight.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (MCD), (CPB), (CAG), (GIS), (GS), (PGR), (JNJ), (NEE), (PG), (TXN), (LRCX) and (HD).

MarketWatch.com:

• Oddsmakers say Joe Biden is the favorite over Donald Trump in the 2020 election.

• It’s like the Wild West with ‘get-rich-quick crowd’ vs. Wall Street pros, but it’s too easy to blame retail investors for ‘rampant speculation’.

• Bankrupt Hertz gets approval to sell up to $1 billion in stock — but experts expect equity to be wiped out.  

• Asymptomatic transmission of coronavirus appears to be worse than SARS or influenza — 5 reasons you should care.

Fox News:

• Atlanta's top cop resigns after fatal shooting of black man; mayor calls for officer's 'immediate termination'.

• Tennessee Gov. Lee sends warning to those looking to set up Nashville autonomous zone.

• EXCLUSIVE: Trump responds to Biden's claim he'll try to steal the election.

Zero Hedge:

• Colorado Bill Requires "Re-Education" For Parents Who Refuse The COVID-19 Vaccine.

• 'Expect Something Big': Kim Jong-Un's Powerful Sister Threatens Military Action Against South.

• "Violent Scuffles" Break Out Between UK Police And Anti-BLM Protesters There To Protect Statues.
• Anonymous Berkeley Professor Shreds BLM Injustice Narrative.
• Cornell Law Prof Says There's A "Coordinated Effort" To Have Him Fired After He Criticized Black Lives Matter.
• Virginia Senator Told Police To Stand Down Before Statue Collapse That Left Man In A Coma.

• "We Mean Literally Abolish The Police": Activists Reject Spin On Movement's Call To Defund Law Enforcement.

• Florida Reports Another Record Jump In New Cases As Global COVID-19 Count Nears 8 Million: Live Updates.

• 'Dangerous' Language Like "Defund The Police".

• Already-Broke Colleges Being Bullied Into Hosting Costly "White Privilege" Workshops Amid Virus Crisis.

• Republic Of CHAZ Begins Reparations; White Participants Pressured To Give Blacks $10 Each.

• Chicago Fed Economist Fired For Criticizing "Defund The Police".

• Goldman's Clients Are Getting Angry That Teenage Daytraders Are Crushing Them

• Taibbi: The American Press Is Destroying Itself.

• US Signs Commitment For Mass Troop Exit From Iraq, Vows "No Permanent Bases".

• COVID-19 Lockdowns Spark 41% Collapse In Black-Owned Businesses In America.

• Former Steve Jobs Advisor Says Facebook Is "Destroying The Very Fabric Of Human Relationships".

• Default By Mall-Owner CBL Sparks Another Manic-Bid By Robinhood Daytraders.

• COVID Spreads To 60 Plants, Sparks Fear Of US Food Shortages As 2nd Wave Strikes.

• COVID-19 Political Risk - Dems Say 'Yes' To Antifa Protests, 'No' To Trump Rallies.

• Hertz Wins Court Approval To Sell Worthless Stock In World's First Initial Bankruptcy Offering.

• Minneapolis City Council Votes To Replace Police Department With “Community-Led” Model.

• Rollercoaster Session Fails To Dent Retail Euphoria.

The Epoch Times:

• Wuhan, Ground Zero for CCP Virus, Also a Major Center for Organ Transplantation.

• Hundreds of Chinese Cruise Ship Workers Blocked from Disembarking, Stranded at Sea. 

• China Insider: Chinese Investors Arrested for Protesting Against FinTech Company Multi-Billion Scam.

John Hopkins University:

• Coronavirus Global Cases. (map)

BNO News:

• Tracking Coronavirus: Map, data and timeline. 

KFF:

• State Data(Tests/Hospitalizations).