Monday, August 03, 2020

Bear Radar

Style Underperformer:
  • Large-Cap Value +.3%
Sector Underperformers:
  • 1) Gold & Silver -2.6% 2) REITs -1.6% 3) Utilities -1.0%
Stocks Falling on Unusual Volume: 
  • PSX, SHOO, SPH, CBRE, AIV, EPR, LEGN, RHP, VLO, FIZZ, STRA, IRT, PRDO, SFM, CATM, CUK, WWE, CCL, SIX, FL, LOCO, NTUS, BLNK, USAC, MDB, ZUMZ, NGVC, BLMN, SNAP, CLI, TUP, ALRM, REZI and KODK
Stocks With Unusual Put Option Activity:
  • 1) DXC 2) APA 3) EWJ 4) MOS 5) RNG
Stocks With Most Negative News Mentions:
  • 1) KOS 2) CAKE 3) PSX 4) DD  5) TWTR
Charts:

Bull Radar

Style Outperformer:
  • Small-Cap Growth +1.7%
Sector Outperformers:
  • 1) Alt Energy +3.2% 2) Video Gaming +2.9% 3) Steel +2.7%
Stocks Rising on Unusual Volume:
  • ADT, JCAP, VAR, CODX, WKHS, FSLY, UPWK, TKR, CRUS, MXL, CWH, APPS, CHGG, GES, CHWY, XPEL, OSTK, BMCH, PRPL, INSG, CTB, INOV and PINS
Stocks With Unusual Call Option Activity:
  • 1) EIX 2) MARA 3) APA 4) XSPA 5) MPC
Stocks With Most Positive News Mentions:
  • 1) IMUX 2) NIO 3) PINS 4) CRNT 5) MRK
Charts:

Morning Market Internals

NYSE Composite Index:

Sunday, August 02, 2020

Monday Watch

Night Trading
  • Asian indices are -.50% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 72.75 -.75 basis point.
  • China Sovereign CDS 42.75 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 61.05 -.07%.
  • FTSE 100 futures -.30%.
  • S&P 500 futures +.05%.
  • NASDAQ 100 futures +.30%.

Earnings of Note
Company/Estimate

Before the Open:
  • (CLX)/1.85
  • (SNA)/.36
  • (DISH)/.57
  • (EME)/.91
  • (GPN)/1.20
  • (CLI)/.30
  • (MCK)/2.36
  • (TSN)/.90
After the Close:
  • (AIG)/.53
  • (CHGG)/.32
  • (CRUS)/.30
  • (DLB)/.27
  • (H)/-1.41
  • (IR)/.20
  • (ITRI)/-.20
  • (KLAC)/2.43
  • (MOS)/-.01
  • (RMBS)/.25
  • (RNG)/.20
  • (SBAC)/1.84
  • (STE)/.98
  • (TTWO)/1.60
  • (THC)/-.71
  • (TXRH)/-.62
  • (TREX)/.65
  • (VNO)/.91
  • (WMB)/.24
Economic Releases
10:00 am EST
  • ISM Manufacturing for July is estimated to rise to 53.6 versus 52.6 in June.
  • ISM New Orders for July is estimated to fall to 55.2 versus 56.4 in June.
  • ISM Prices Paid for July is estimated to rise to 52.0 versus 51.3 in June.
  • Construction Spending MoM for June is estimated to rise +1.0% versus a -2.1% decline prior.
Afternoon
  • Wards Total Vehicle Sales for July is estimated to rise to 14.0M versus 13.05M in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PMI report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week mixed as global recession fears, coronavirus second wave worries and earnings jitters offset short-covering, technical buying and global stimulus hopes. My intermediate-term trading indicators are giving bearish signals and the Portfolio is 50% net long heading into the week.

Saturday, August 01, 2020

Today's Headlines

Bloomberg:
Wall Street Journal:
CNBC:
  • Had bullish commentary on (AN), (GPI), (OSTK), (CWH)(KMX), (NEM), (GOLD).
  • Had bearish commentary on (TRUP).
MarketWatch.com:
Fox News:
Zero Hedge:
Business Insider:
The Epoch Times: