Bear Radar

Style Underperformer:

• Mid-Cap Growth -.6%

Sector Underperformers:

• 1) Software -1.7% 2) Video Gaming -1.1% 3) Biotech -1.1%

Stocks Falling on Unusual Volume: 

• SYNA, OKTA, JACK, GRPN, VIVO, SWCH, GBT, OSTK, EVBG, VIRT, RDNT, TTGT, CHWY, TTD, FISV, BL, SVMK, ACAD, BILL, GWRE, VAPO, FBC, CCOI, CALX, ITCI, GNRC, QLYS, APPN, CHGG, EVER, NET, WKHS, NGVC, BHVN, STAA, AYX, DKNG, QDEL, AAOI, TGTX, MNTA, KODK and RETA
  

Stocks With Unusual Put Option Activity:

• 1) MCRB 2) PTEN 3) GNW 4) SPG 5) YUM
  

Stocks With Most Negative News Mentions:

• 1) KODK 2) HEBT 3) QTWO 4) RDN  5) TRUP
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Value +2.0%

Sector Outperformers:

• 1) Gaming +7.8% 2) Airlines +4.4% 3) Steel +3.6%

Stocks Rising on Unusual Volume:

• MCRB, OMER, SRNE, NKLA, SRG, UBX, AVYA, MGM, FVAC, EXPI, WYNN, REGI, SPG, USX, FDX, WSC, FL, MOS, PGNY, YELP, APPS, ICPT, TPVG, DAR, BEARM, PSLV and BPOP
  

Stocks With Unusual Call Option Activity:

• 1) PTEN 2) MCRB 3) SYF 4) ITCI 5) YELP

Stocks With Most Positive News Mentions:

• 1) SNCR 2) NKLA 3) FL 4) FDX 5) WSC

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -16.8% Below 100-Day Average
• 8 Sectors Rising, 3 Sectors Declining
• 72.1% of Issues Advancing, 26.1% Declining
• 107 New 52-Week Highs, 3 New Lows
• 44.7% of Issues Above 200-day Moving Average
• Average 14-Day RSI 55.0%
• Vix 22.4 +.9%
• Total Put/Call .61 -15.3%
• TRIN/Arms .86 -20.4%

Monday Watch

Today's Headlines
Bloomberg:

• Pandemic Puts Millions of Europeans on Path to a Debt Crisis.  
• These Are All the Major Flashpoints Between China and the U.S.    
• Trump’s Attacks on China Reach New Peak of ‘Pent-Up’ Grievances.  
• Three Risks Weighing on Emerging Markets All Start With T.  
• Dollar Trades Steady; Stocks to Start Week Mixed: Markets Wrap. Currency markets began the week in a muted fashion and stocks looked set to open mixed, with investors weighing uncertainty over the prospects for more U.S. stimulus. Oil climbed. The dollar was steady against all G-10 peers in early Monday trading. S&P 500 futures opened little changed after American shares ended higher last week. Asian-equity index futures pointed to small declines in Hong Kong, while Australian contracts edged up. Japan is shut for the Mountain Day holiday and Treasuries won’t trade until the London open. Gold slipped. Futures on the S&P 500 dipped 0.1% as of 7:07 a.m. in Tokyo. The index rose 0.1% on Friday. Futures on Australia’s S&P/ASX 200 Index advanced 0.7%. Hang Seng Index futures slid 0.2%.
• Mideast Markets Trade Mixed With Aramco, Oil Eyed: Inside EM.   
• Oil Rallies in Asia as Saudi Aramco Sees Recovery in Demand.
• U.S. Tops 5 Million Cases; EU Is Upbeat on Vaccine: Virus Update.
• Trump’s Pandemic Relief Orders Likely to Face Legal Challenges.
• Make-or-Break Time Coming for Fans of Treasury Curve Steepener.  
• Riot Is Declared as Dumpster Fires Burn in Portland, Oregon.  
• Investor Who Pushed NFL Team Rebrand Shifts Focus to Evictions.

Wall Street Journal:

• Amazon, Mall Owner Look at Turning Anchor Spaces Into Fulfillment Centers.
• Latest Research Points to Children Carrying, Transmitting Coronavirus.
• An Autopsy of New York’s Mail-Vote Mess.
• The NBA’s Moral Failure in China.
• To Some Investors, 10-Year Treasury Note Isn’t What It Was.
• Life Insurance Companies Want Access to Your Medical Files.
• As E-Commerce Booms, Robots Pick Up Human Slack.
• Trump’s Executive Orders.
• Millennials Slammed by Second Financial Crisis Fall Even Further Behind.

Fox News:

• CABOT PHILLIPS: School curriculum would set new US ‘birth year’.
• Federal Reserve president suggests 6-week halt to economy to stop COVID-19.
• Dems pushing for mail-in voting so they can call Trump this if he wins: Levin.

CNBC:

• Trump signs orders aimed at extending some pandemic relief after Congress fails to reach a deal.
• Trump’s ban of Chinese apps has lots of precedent in other countries, and Apple and Google comply.
• Housing market skirts pandemic as sellers use 3D virtual tours to reach buyers.
• Trump signs measure to provide extra $400 in weekly unemployment benefits.
• Electric Ford Mustang Mach-E features ‘audio wizardry’ with optional engine noise.
• Here are five charts illustrating U.S. economic trends amid the coronavirus pandemic.

Zero Hedge:

• Furious Democrats Faced With A Daunting Question: Will They Dare To Challenge Trump's Stimulus Orders.
• Nancy Pelosi Admits On CNN: "China Would Prefer Joe Biden".
• Black-Hole'd? NASA To Stop Using "Inappropriate" Nicknames For Cosmic Objects.
• "It's Not Clear If Beirut Port Explosion Was Accident Or Attack": Esper Tells FOX.
• COVID-19 Cases Climb In Greece, UK As Arizona Sees New Cases Drop To 6-Week Low: Live Updates.
• Whistleblower Exposes "The Spies Who Hijacked America".
• Exuberance Abounds.
• No Payment, No Problem: Bizarre New World Of Consumer Debt.
• Social Media Imposing Modern-Day 'Hays Code' On Political Speech.
• China's Indo-Pacific Neighbors Stand Up To Its Hegemonic Ambitions.
• Bank Run In Northeast China Part Of A Growing Trend.
• Biggest Squeeze In 2 Months Sends 'Most Shorted' Stocks To Critical Resistance.
• Inside One Of Big Brother's 'Location Harvesting' Contractors, Which Tracks 'Hundreds Of Millions' Of Phones.
• 'TwitTok?': Twitter Reportedly Joins Growing List Of Potential TikTok Suitors.
• FTC Weighs In On Mystery Seeds From China, Citing Two Online Shopping Scams As Potential Motives.
• 'Broke And Unemployed' Hunter Biden Slapped With $450K Tax Lien - Which Was 'Resolved' In Six Days.
• Navarro And Mnuchin Get Into "Knock Down, Drag Out" Oval Office Brawl Over TikTok Ban.
• "Leave, You Are All Killers!" Protesters Storm Multiple Government Ministries In Beirut.
• More Than 84,000 Mail In Ballots Disqualified In New York City Primary.

MarketWatch.com:

• Potential Kodak deal paused until ‘allegations are cleared’.

Business Insider:

• Hasbro pulls Trolls doll amid uproar over a 'giggle' button between its legs, which critics say promotes child abuse.
• Just 30% of Brits say they would definitely get a coronavirus vaccine, with scientists blaming anti-vaxxer conspiracy theories and mistrust in government.
• Bill Gates called Microsoft's potential TikTok deal a 'poison chalice' and said 'who knows what's going to happen'.

The Epoch Times:

• Why the U.S. Should Decouple from China: Dave Brat.
• Azar Arrives in Taiwan for Highest-Level US Delegation in Decades.
• Residents in ‘Closed-Off’ Communities in Dalian Are Running out of Food.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading

• Asian indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 67.5 unch.
• China Sovereign CDS 41.5 +.25 basis point.
• Bloomberg Emerging Markets Currency Index 60.26 -.14%.
• FTSE 100 futures n/a.
• S&P 500 futures -.09%.
• NASDAQ 100 futures -.12%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (GOLD)/.18
• (DUK)/1.03
• (MAR)/-.41
• (MELI)/-.05
• (RCL)/-4.55
  

After the Close:

• (HTZ)/-3.48
• (IAC)/1.15
• (OXY)/-1.70
• (SPG)/2.23
• (TLRY)/-.40

Economic Releases
10:00 am EST

• JOLTS Job Openings for June.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The BTIG Biotech Conference, JPMorgan Auto Conference and the Mexico Industrial Production report could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% 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, earnings jitters, technical selling, rising China tensions and profit-taking. My intermediate-term trading indicators are giving bearish signals and the Portfolio is thee week 50% net long heading into the week.

Today's Headlines

Bloomberg:   

• Mnuchin Says Trump to Take Executive Action After Talks Stall.  
• U.S. Cases Steady; India Infections Pass 2 Million: Virus Update.  
• Nasdaq Valuations Say You’ll Be Stuck at Home for a Long Time.  
• JPMorgan Rejects Threat to Dollar Status Flagged by Goldman. 
• Buffett’s Grim View of Air Travel Realized in $10 Billion Charge.   
• From Bourbon Street to Food Banks, Signs of a Slow U.S. Recovery.   
• Robintrack, Chronicler of Day Trader Stock Demand, To Shut.

Wall Street Journal:

• Covid Chasers: The Nurses Fighting Coronavirus From Hot Spot to Hot Spot.
• Why It’s (Mostly) Safe to Reopen the Schools.
• An Autopsy of New York’s Mail-Vote Mess.
• The NBA’s Moral Failure in China.
• New Chapter in U.S.-China Ties Marked by Confrontation.
• Qualcomm Lobbies U.S. to Sell Chips for Huawei 5G Phones.
• Beirut Braces for Mass Protests Over Deadly Explosion.

CNBC:

• Dire outlook for movie theaters as coronavirus resurges in U.S.
• Buffett buys back record $5.1 billion in Berkshire stock as coronavirus hits operating earnings.
• Trump advisors urge delisting of U.S.-listed Chinese firms that fail to meet audit standards.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (EL), (DOCU), (OKT), (EVRG) and (WYNN).

MarketWatch.com:   

• 55% of coronavirus patients still have neurological problems three months later: study.

Fox News:

• Bill Maher confronts incredulous ex-Clinton aide about Epstein, ‘sex island’ talk.

Zero Hedge:

• 3 Reasons Treasury Rates Can Still Hit 0%: Part III, The Death Of Growth.
• US Intelligence: If Trump Wins Russia Did It, If Biden Wins It Was China And Iran.
• Fed Wants Inflation But Their Actions Are Deflationary.
• Bullion Banks Have "No Way Out" From Big Gold Shorts.
• Feds Uncover "Most Sophisticated Tunnel In US History" Along Southern Border.
• Debunking The Myth That Lockdowns Stop Pandemics.
• Russia Hoax: Are We All Being Played? Put Up Or Shut Up!
• Bike Store Cancels Contract With Austin Bike Police After "Woke" Employees Complain.
• Trucking Company Refuses To Deliver To Cities Calling To "Defund The Police".
• US Consumer Credit Rises For The First TIme Since The Covid Crisis.
• Florida Cases, Fatalities Bounce Back After Hurricane As US Deaths Top 160,000: Live Upates.
• Inequality Has Never Been Bigger: Financial Assets Hit A Record 620% Of GDP.
• 100 Children Shot In Philadelphia Year-To-Date.
• Steele's Source Met With Russian Official Days Before Dossier Fabrication Began.
• How To Become "Anti-Fragile".
• 39% Of Younger Millennials Return Home Amid Crushing Recession .
• 5 Ways "The New COVID Normal" Is Getting Worse And Worse.
• Tech Tumbles Into Weekend, Copper Crumbles As Silver Soars.

Business Insider: 

• TikTok is reportedly planning to sue the Trump administration over its ban as early as Tuesday.
• Sales of pricey New York City apartments plunge as the suburbs become cool again.

The Epoch Times:

• Bank Run in Northeast China Part of a Trend.
• Following US Ban on WeChat, TikTok, Beijing Reacts Angrily While Chinese Users Ponder Uncertainty.
  

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).