Bear Radar

Style Underperformer:

• Large-Cap Value +1.5%

Sector Underperformers:

• 1) Shipping unch. 2) Agriculture +.6% 3) Internet +.8%

Stocks Falling on Unusual Volume: 

• GCP, SWBI, KR, LCA, KNX, PTON, MCFT, PEN, RDNT, GRAF, SHLL, GRPN, GRPN and CODX
  

Stocks With Unusual Put Option Activity:

• 1) APA 2) EOG 3) COF 4) FXI 5) DVA
  

Stocks With Most Negative News Mentions:

• 1) KALA 2) CODA 3) KR 4) TIF  5) CASY
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +2.3%

Sector Outperformers:

• 1) Biotech +4.9% 2) Disk Drives +2.9% 3) Alt Energy +2.9%

Stocks Rising on Unusual Volume:

• IMMU, SGMS, MRSN, DPHC, AXSM, SPAQ, SGEN, CENX, XPEL, EXEL, TPR, OSTK, AMTI, MRTX, TPX, GRBK, ITCI, MLHR, AIV, ATNX, NBIX, ZUMZ, DNLI, FATE, NVDA, GH, DNLI, STRO, HCAC, KURA, ORCL, FRTA, COOP, GMHI, NKLA, TGTX and VRS
  

Stocks With Unusual Call Option Activity:

• 1) ZGNX 2) IMMU 3) APA 4) DVA 5) MDLZ

Stocks With Most Positive News Mentions:

• 1) VIR 2) GME 3) TPX 4) MU 5) MCD

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -26.8% Below 100-Day Average
• 10 Sectors Rising, 1 Sector Declining
• 78.7% of Issues Advancing, 19.0% Declining
• 51 New 52-Week Highs, 8 New Lows
• 45.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 43.6% 
• Bloomberg Global Risk-On/Risk-Off Index 284.0 +90.0 points
• Vix 25.9 -3.8%
• Total Put/Call .77 -22.2%
• TRIN/Arms 1.01 +38.4%

Monday Watch

Today's Headlines

Bloomberg:  

• Japan’s Suga Set to Win Ruling Party Race in Landslide, NHK Says.  
• China Clamps Down on Finance Arms of Ant, Other Giants.
• Germany Is Calling the Shots in Europe and Merkel Isn’t Sorry.
• Googling for Gut Symptoms Predicts Covid Hot Spots, Study Finds.
• SoftBank Officials Revive Talks to Take Company Private: FT.
• SoftBank Selloff Hits $17 Billion After Tech Exposure Fear Grows.    
• Stocks, Futures Push Higher After Two-Week Slide: Markets Wrap. Asian stocks started the week with gains and U.S. futures pointed higher as investors looked ahead to a Federal Reserve meeting that could provide clues on the policy outlook. The dollar and Tre.asuries were little changed. Shares saw modest gains in Japan, Australia and South Korea. S&P 500 futures climbed about 0.8%. Helping to buoy sentiment were comments from the Pfizer Inc. CEO about the likely deployment of a vaccine to Americans by year-end and reports that the sale of TikTok in the U.S. was nearing a conclusion. Gold was steady and crude oil ticked higher. S&P 500 futures rose 0.8% as of 9:05 a.m. in Tokyo. The index ended Friday little changed. Japan’s Topix index gained 0.4%. South Korea’s Kospi index added 0.9%. Australia’s S&P/ASX 200 Index rose 0.2%.
• Oil Traders Snap Up Tankers in Sign Second-Wave Glut Is Near.    
• BP Says the Era of Oil-Demand Growth Is Over.
• Five Things You Need to Know to Start Your Day.
• Treasury Traders Are Doubtful Powell Can Drive Inflation Higher.  
• ByteDance Tells U.S. It Won’t Sell Tiktok’s Algorithm: SCMP.  
• Michael Bloomberg to Spend $100 Million in Florida to Aid Biden.  
• Tropical Storm Sally Is Heading North, Stalking New Orleans.
• Oracle Picked as Winning Bid for TikTok U.S. Over Microsoft: WSJ.

Wall Street Journal:

• Gilead Close to Deal to Buy Immunomedics for More Than $20 Billion.
• The Wildly Popular Trades Behind the Market’s Swoon and Surge.
• Bad Teaching Is Tearing America Apart.
• Would a TikTok Ban Make the App Disappear? It’s Complicated.
• Remote Schooling Out of Reach for Many West Virginia Students Without Internet.
• U.S., China Spar Over Mainland Detention of 12 Hong Kong Activists.

Fox News:

• Protesters show up at LA hospital treating ambushed cops, shout chilling threats.

CNBC:

• United CEO says demand unlikely to recover until vaccine is widely distributed
• Pfizer coronavirus vaccine could be given to Americans before end of the year, CEO says.
• At least 33 dead as wildfires scorch millions of acres across Western U.S. — ‘It is apocalyptic’.

Zero Hedge:

• "We Hope They Die!" Protesters Chant, Block Hospital ER Entrance As Ambushed LA Cops Remain Critical.
• "I've Never Seen Anything Like This": Shippers Using West Coast Ports Can't Book Rail On BNSF And Union Pacific.
• China Injects $500 Billion In New Monthly Credit As Surge In US Real Yields Looms.
• Facebook And FBI Wage Infowar On West Coast Wildfire Arson "Conspiracy Theories".
• Czech Republic Suffers Another Record Jump In COVID-19 Cases As Florida Deaths Drop To Just 8: Live Updates.
• "Fishy As Hell": Graham Slams ActBlue Over Anonymous Donations After Group Drops Nearly $200 Million On Biden Campaign.
• ​​​​​​​DEA Busts Drug 'Superhighway' Across America, Seizes 28,000 Pounds Of Meth.
• Oracle Reportedly Passes Microsoft As New 'Frontrunner' In Race To Buy TikTok US.
• Princeton Math Prof Dares To Challenge University's "Systemic Racism" Narrative.
• On The Edge Of Another Historic Inversion: Retail Traders Set To Surpass 50% Of All Call Buying.
• Enter Austin "At Your Own Risk" - Texas Billboards Warn Motorists Amid Police Cuts.
• Retail Worshipers Routed By Last Week's Tesla Tumble Remain Faithful To The Church Of Musk.
• It's Far Too Late To Think Lockdowns Can Make COVID-19 Go Away.
• People Are Rolling Cars In Neutral Down The Hill Where The Nikola One Semi Was Allegedly Filmed "In Motion".
• A Permanent Shift In Valuations?
• LA Deputies Shot In Compton Ambush, Suspect At Large.
• The Millennials Are Coming For The Boomers' Money: One Bank Sees Generational Conflict Breaking Out This Decade.
• Author Of Dystopian Classics Predicted 'Use Of Face Masks To Enforce Conformity' 70 Years Ago.
• DHS Proposes Massive Expansion Of "Biometric Modality" Collection.
• Chinese Government Combines "Track & Trace" COVID-System With Social Credit Score.
• New System In Gulf Could "Strengthen" Into Hurricane Sally; New Orleans In Crosshairs.
• How To Protect Your Children From Indoctrination.
  

The Epoch Times:

• US ‘Deeply Concerned’ About 12 Hong Kong Activists Detained in China: Pompeo. 
  

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 +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 58.75 -.75 basis point.
• China Sovereign CDS 36.50 -.75 basis point.
• Bloomberg Emerging Markets Currency Index 60.53 +.02%.
• Bloomberg Global Risk-On/Risk Off Index 222.0 +27.0 points.
• Volatility Index(VIX) futures 31.10 -2.4%. 
• Euro Stoxx 50 futures +.15%.
• S&P 500 futures +.88%.
• NASDAQ 100 futures +1.1%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• (LEN)/1.58

Economic Releases

• None of note

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Euzozone Industrial Production report, RBA minutes, Barclays Financial Services Conference, RBC Industrials Conference, Morgan Stanley Healthcare Conference, Jefferies Software Conference, JPMorgan Gaming/Lodging/Restaurant/Leisure Forum, (PFE) investor day and the Deutsche Bank dbAccess Conference 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 consumer shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  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 US election uncertainty, diminished US stimulus hopes, rising China tensions, less dovish FOMC commentary, oil weakness and technical selling. My intermediate-term trading indicators are giving bearish signals and the Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:    

• Brexit Dread Is Ripping Through U.K. Markets Once Again.  
• Charting the Global Economy: Bouncing Back But Long Road Ahead. 
• France Daily Coronavirus Cases Top 10,000, Most Since Lockdown.
• Bernie Sanders Said to Have Concerns on State of Biden Campaign.
• U.S. Has Its Deadliest Day in More Than Two Weeks: Virus Update.
• Why Telemedicine May Stay Even After Covid Fades Away.
• Nikola’s History of Discrepancies Has Been in Plain Sight.  
• Trump Vows to Unleash Ethanol at Gas Pumps as He Woos Corn Belt.   
• Tropical Storm Sally Stalks Gulf Coast Including New Orleans.

Wall Street Journal:

• SoftBank Nears $40 Billion Deal to Sell Arm Holdings to Nvidia.
• Goodbye, Open Office. Hello, ‘Dynamic Workplace.’
• The New Geopolitics of Energy,
• Bad Teaching Is Tearing America Apart.
• Mail-Vote Madness in Pennsylvania.
• Are You an Investor or a Gambler? The Market Knows.
• Gilead Close to Deal to Buy Immunomedics for More Than $20 Billion.

CNBC:

• The Peloton threat: Gyms have a plan to get Americans working out again.
• China announces new restrictions on U.S. diplomats’ activities.
• Jim Cramer IPO roundup: ‘Be prepared as these deals start flowing’.
• Investors will look to the Fed to soothe the market, but that may be a tall order.
• Movie theaters rushed to reopen, but now there are no blockbusters to play.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (PVH), (GM), (ELAN), (CROX), (DIS) and (CFG).

MarketWatch.com:     

• Big Tech is turning on one another amid antitrust probes and litigation.  
• Apple’s launch event has one big unknown.
  
• Trump can beat Biden, analyst says — watch for ‘a big Q3 GDP figure,’ a strong first debate.

Fox News:

• Iran executes pro wrestler, 27, for protests despite global appeals, including from Trump.
• Top aide to Durham steps down amid Russia origins probe.
• 'Nearly half' of CNN's GOP commentators are anti-Trump: report.
• Blackburn: Mueller's team attempting 'cover-up' after 'wiped' phones.
  

Zero Hedge: 

• 'Rogue' Chinese Virologist Claims She Has "Evidence" COVID-19 Was Created In A Lab.
• France Suffers New Record Surge In COVID-19 Cases As Locals Complain About Testing Delays: Live Updates.
• Facebook Under Fire For Keeping Antifa Page While Eliminating Far-Right Groups.
• Surprise! Politicians Worldwide Aren't Following Their Own COVID Rules...
• "Your Money Is Gone. All Gone": How SoftBank's Call Spread Strategy Led To Catastrophic Results - A Thread.
• Youth Suicides Soar 57% In Past Decade: Is Social Media To Blame?
• Correction Makes Speculators Even More Speculative.
• AstraZeneca Resumes COVID-19 Trials After Halt Over Adverse Reaction.
• As West Coast Burns, Leftists Blame "Climate Damn Emergency"; There Are Just 2 Things...
• Nikola Founder Sends Employees To Germany On Private Jet In Late Night Scramble To Debunk Short Seller.
• Call Buying Frenzy Is Back As Daytraders Flood Into Apple "Lottery Tickets".
• America's 1984: Welcome To The Hate.
• Have Pollsters Figured Out How To Poll The Midwest?
• "De Blasio Has Been A Disaster": Former NYPD Commissioner Predicts City Will Take Longer To Recover From Mayor Than 9/11.
• Turkey Starts 'Live-Fire' Drills In Contested East Med As Macron Says EU Sanctions "Ready".
• Elizabeth Holmes Prepares A "Mental Health" Defense For Her Criminal Fraud Charges.
• Illinois And The Mail-In Voting Election Mess.
• Budget Deficit Hits Record $3 Trillion As US Spends 100% More Than It Collects YTD.
• No Exit: VMWare Joins Growing Group Of Tech Cos Threatening To Cut Employees Wages For Leaving San Francisco.
• Popular QAnon Website Shuts Down After Citigroup Employee And Webmaster Doxxed And Stalked.
• NFL Ratings Sacked As Season Opener Fails To Draw Viewers.
  
• 'Party Of Science' Leader Pelosi Mocked For "Mother Earth Is Angry" Comments.
• Walmart Launches "Drone Delivery" As Last-Mile Delivery War Heats Up.
• California's Real Wildfire.
• The "Smartest Money" Left NYC A Decade Ago: Why Jerry & James Are Both Wrong.
• Text Sent To Bank Strategist's 16-Year-Old Son: "Guys I Am Freakin' Out Right Now Tesla Is Down 45 Points... Ask Your Dad What's Going On".
• Big-Tech & Black Gold Battered As Bonds & Bullion Bounce Back.

Business Insider:

• A record-high number of apartments are available for rent in Manhattan.
• Human rights groups urge Trump to ban Chinese cotton over Xinjiang forced labor camps. The implications of a ban 'would be enormous' in Beijing, one expert said.
• Some states have 'unintentionally' pursued a herd-immunity strategy to control the coronavirus, experts say — and it's kind of working.
• New hope for peanut allergy sufferers as pioneering study suggests immunotherapy treatment could reduce the severity of reactions.

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).