Bear Radar

Style Underperformer:

• Small-Cap Value -4.8%

Sector Underperformers:

• 1) Steel -8.2% 2) Oil Service -7.5% 3) Airlines -6.4%

Stocks Falling on Unusual Volume: 

• MWA, SPXC, IPOC, JPM, STAY, HCAC, FRTA, EPRT, ACM, HES, GTHX, MLHR, AXTA, KREF, FRME, CUK, BMCH, BKNG, GM, EPR, STL, DKNG, CNMD, AIMC, NWSA, REGI, LYV, HCA, NWS, H, WYNN, ILMN, AIN, WAB, MYOK, FCX, DAL, CNC, MOH, VVI, HA, CFX, RUTH, KODK, UHS, HEES, GRBK, THC and NKLA
  

Stocks With Unusual Put Option Activity:

• 1) TRIP 2) EWJ 3) COF 4) ILMN 5) GPS
  

Stocks With Most Negative News Mentions:

• 1) THC 2) NNOX 3) NKLA 4) UHS  5) HCA
  

Charts:

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

Bull Radar

Style Outperformer:

• Mid-Cap Growth -1.0%

Sector Outperformers:

• 1) Software +.3% 2) Internet +.2% 3) Video Gaming unch.

Stocks Rising on Unusual Volume:

• CUB, ROKU, BAND, PTON, ZM, NLS and IPOB
  

Stocks With Unusual Call Option Activity:

• 1) AMPE 2) DXCM 3) OLN 4) D 5) SIX

Stocks With Most Positive News Mentions:

• 1) RCII 2) TOL 3) MAN 4) MRTX 5) CG

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +10.8% Above 100-Day Average
• 0 Sectors Rising, 11 Sectors Declining
• 8.9% of Issues Advancing, 90.0% Declining
• 16 New 52-Week Highs, 33 New Lows
• 46.9% of Issues Above 200-day Moving Average
• Average 14-Day RSI 45.0% 
• Bloomberg Global Risk-On/Risk-Off Index -171.0 -447.0 points
• Vix 30.5 +18.0%
• Total Put/Call .92 -1.1%
• TRIN/Arms 1.23 -9.6%

Monday Watch

Today's Headlines

Bloomberg:      

• China Raises Conflict Risk With Breach of Taiwan Buffer Zone.
• TikTok Owner Seeking $60 Billion Valuation in U.S. Deal.  
• U.K. at ‘Critical Point’ in Virus Surge With London at Risk.
• Picking Winners and Losers in Asia From the U.S. Election.
• Banks Moved $2 Trillion, Defying Money Laundering Orders: ICIJ.  
• U.S. Futures, Asia Stocks Drift; Yuan Ticks Higher: Markets Wrap. 
• It’s Mostly About Rates for Growth-Deprived Emerging Markets.
• U.S. Cases Steady as Death Toll Nears 200,000: Virus Update.
  
• Biden Likely to Tap Kamala Harris to Prosecute Trump Court Pick.
  
• Virtual UN Is Latest Blow to New York City’s Battered Economy.   
• Adelsons Pump $25 Million Into GOP Senate Super-PAC in August. 
• Goldman Says Value, Not Cyclicals, Would Rally Most on Vaccine.

Wall Street Journal:

• Pandemic Threatens to Widen Racial Homeownership Gap.
• Princeton’s Confession of Bias.
• What It Would Take for Herd Immunity to Stop Pandemic.
• Banks Pile Into Treasurys, Helping to Fund Government Borrowing Spree.

Fox News:

• Speaker Pelosi won’t rule out using Trump impeachment to stop SCOTUS pick.

CNBC:

• What to expect from Tesla on ‘battery day’.
  

Zero Hedge: 

• "We Have Our Options": Pelosi Doesn't Rule Out Impeachment Over Supreme Court Pick.
• MSM Welcomes "Whistleblowers" Reporting Partying College Students Breaking COVID Rules.
• Bias.
• California Burnin' - A Warning Against One-Party Rule.
• The 'Gender-Feminist/New-Left/Marxist' Axis Attacks All Civil Society.
• "He Needs Cash": Ron Perelman's Leveraged Empire Collapses In A Deluge Of Fire Sales.
• "Protesters" In Philadelphia Chase Down And Assault Random Citizens For Being "Nazis".
• Record Numbers Of Companies Drown In Debt To Pay Dividends To Their Private Equity Owners.
• Massive FinCEN Leak Exposes How Biggest Western Banks Finance Drug Cartels, Terrorists & Mobsters.
• Portland Neighbors Frustrated After Police Take 90 Minutes Responding To Hostage Situation Involving 12-Year-Old.
• Global Debt Is Exploding At A Shocking Rate.
• US Believes Iran Likely To Have Enough Fissile Material For Nuclear Bomb By Year's End.
• Madrid Braces For Lockdown As UK Nears COVID-19 "Tipping Point": Live Updates.
• Iran's Rouhani Vows "Crushing Response" After Pompeo Declares Restoration Of All Sanctions.
• "Not There Yet" - The Correction Continues.
• Trump 'Blesses' Deal Valuing TikTok At $60 Billion As ByteDance Keeps 'Secret Sauce'.
• Here Are The Most Popular ESG Fund Holdings.
• Biden Refuses To Release List Of Supreme Court Contenders.
• US Close To Declaring Qatar Major Non-NATO Ally, Deepening Military Ties.
• Iranian Court Orders The Amputation of The Fingers Of Three Teenagers Under Sharia Law.
• Popular Children's App Allegedly Requests Minor To Take Naked Pictures.
• Taibbi: The Post-Objectivity Era.
• "Nobody Is Here!" - Movie Theaters Reopen, Audiences Stay Away.
• Too Much Centralization Is Turning Everything Into A Political Crisis.
• "Peak" SPAC: Playboy Enterprises Considering Going Public Through Blank Check Company. 
  

Business Insider:

• One stock market signal suggests the US presidential race is tightening, Goldman Sachs says.
• Officials identify a woman suspect after letter laced with deadly ricin poison sent to President Trump.
• Apps are tracking WhatsApp users' online activity, including whom they're likely talking to and when they're sleeping.

The Epoch Times:

• Taiwan President: Drills Show China Is Threat to Region.
  

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 71.0 new series.
• China Sovereign CDS 42.5 new series.
• Bloomberg Emerging Markets Currency Index 60.64 +.08%.
• Bloomberg Global Risk-On/Risk Off Index 274.0 -1.0 point.
• Volatility Index(VIX) futures 29.85 -.75%. 
• Euro Stoxx 50 futures -.24%.
• S&P 500 futures +.26%.
• NASDAQ 100 futures +.49%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• (WUBA)/.60

Economic Releases

8:30 am EST

• The Chicago Fed National Activity Index for Aug. is estimated to rise to 1.19 versus 1.18 in July.

12:00 pm EST

• 2Q Household Change in Net Worth.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Oppenheimer Healthcare Life Sciences/MedTech Summit 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 weaken into the afternoon, finishing mixed.  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 uncertainties, global coronavirus worries, rising China tensions, yen strength, 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:          

• China Reveals Punishment for Firms on Unreliable Entity List.  
• Iran Warns U.S. Against War Before UN Sanctions Showdown.
• TikTok App Store Ban Delayed After Trump Approves Oracle Deal.
• Canada’s Most Populous Province Extends Caps on Gatherings.
• U.S. Adds Almost 50,000 Cases; U.K. Is on Edge: Virus Update.
• Rates Market Sleepwalks Back Toward Historically Low Yields.
• Amy Coney Barrett Emerges as Front-Runner for Trump Court Pick.
• Ginsburg Death Reshapes Presidential Campaign in Final Weeks.  
• IPO Frenzy This Week Nets Billions for Venture Capital Backers.  
• Covid Grows Less Deadly as Doctors Gain Practice, Drugs Improve.
• Goldman Says Options Market Pushing Election Risk to December.
• Charting the Global Economy: Fed Signals Rates on Hold for Years.  
• Schumer Says All Options Open on Court If Democrats Win Senate.  
• Biden Has No Plans to Match Trump’s Release of Court Picks.

Wall Street Journal:

• Companies’ New Back-to-Work Dilemma: Who Returns First?
• The ‘Systemic Racism’ Dodge.
• The Ginsburg Vacancy.
• The Russia Farce Continues.
• Huang’s Law Is the New Moore’s Law, and Explains Why Nvidia Wants Arm.
• Death Toll From Pandemic Extends Far Beyond Virus Victims.
• BlackRock ETF Business Wins Big After Fed Taps It for Help.
• Trump Says Supreme Court Nominee Will Be a Woman.

CNBC:

• CDC reverses controversial coronavirus guidance that said people without symptoms may not need a test.
• Apple has quietly dropped 22% from its peak, giving up $500 billion in market cap.
• Trump agrees to deal in which TikTok will partner with Oracle and Walmart.
• Chime is now worth $14.5 billion, surging past Robinhood as the most valuable U.S. consumer fintech.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (MA), (PYPL), (FIS), (GPN), (ACI) and (V).

MarketWatch.com: 

• Fed’s Kashkari decries ‘absurd’ U.S. financial system that needs bailout every 10 years.
• Fed to add pandemic-recession scenarios to next round of big banks’ stress tests.  
• Goldman warns U.S. election will trigger ‘extended period of high volatility’: FN.

Fox News:

• Trump urges GOP to honor 'obligation' to immediately fill Supreme Court vacancy.
• List of potential Supreme Court nominees that former VP may consider.
• Ted Cruz urges Senate to fill seat, warns of 'constitutional crisis' on Election Day.
• Michael Moore warns Biden about campaign in Michigan.
• Trump calls mail-in voting a 'scam,' says Dems setting up chaos.
  

Zero Hedge: 

• Mostly Non-Peaceful? Princeton Study Finds BLM Responsible For 91% Of Riots Over Last 3 Months.
• Picking RBG's Successor: The Who, The When, & The Hypocrisy.
• Trump Has "Given His Blessing" To TikTok-Oracle Deal As ByteDance Begs US Court To Intervene.
• Nuclear Scenario For Markets Emerges In 'Jaw-Dropping' SCOTUS/Election Plot-Twist.
• ActBlue Raises Record $50 Million Following Ginsburg Death.
• France Suffers Another Daily COVID-19 Record As New York Reports Most Cases Since Early June: Live Updates.
• Amazon Keeps Spreading Across America, Plans 1000 Warehouses In Suburban Neighborhoods.
• Governments Will Impose New Lockdowns If They Think They Can Get Away With It.  
• "I'm Speechless": Police Chase Down Tesla On Autopilot Doing 90 MPH With Driver And Passenger Asleep.
• From Brilliant To Brain-Dead: The Risk Of Timing Manic Markets.
• AOC: Democrats Should 'Radicalize And Fight' Following Ginsburg's Death.
• Tug Of War Across Markets Hides "Trade Of A Lifetime".
• Secret Service Intercepts 'Highly Toxic' Poison Ricin Mailed To White House.
• "This Resets The Race" - SCOTUS Opening Creates Opportunity For Trump To 'Change The Subject' Before Nov. 3.
• "Trying To Break Us Down": Mass Protests Hit Israel As 2nd Nationwide Lockdown Takes Effect.
• China Is Killing The Dollar.
• Dershowitz: Why I Am Suing CNN.
• The New Normal In 'Virtual Classrooms': Porn, Guns, & Racism?
• Chicago Logs Whopping 52% Jump In Homicides From 2019: 'Five Times Any Prior Year'.
• "Absolutely Terrified" Democrats Demand Emergency Investigation Into Durham Probe.
• Justice Ruth Bader Ginsburg Dead At 87.
• When Government Incompetence And Overreach Turns Deadly.
• California Crackdown On Benefits Fraud Sparks 72% Plunge In Pandemic Jobless Claims.
• Schumer, Warren Introduce Resolution To Cancel $50,000 In Student Loans To "Close Racial Wealth Gaps".
• A Textbook Case Of Treason.
• France Suffers Most COVID-19 Deaths Since Spring; Finance Minister Tests Positive: Live Updates.
• "We Don't Have The $$$" - Yellow Cabs Block NYC Bridges As Taxi-Debt Crisis Erupts.
• First CMBS Mega-Casualty On Deck: $700MM Starwood Portfolio On Verge Of Default.
• Stocks Suffer Longest-Losing Streak In Over A Year As Dollar Dump Continues.

Business Insider:

• 11 things you can do to stop being manipulated by your phone, according to the tech experts on Netflix's 'The Social Dilemma'.
  

The Epoch Times:

• Timeline: China’s Handling of the Pandemic and Canada’s Stance.
• China Flies 18 Warplanes Near Taiwan During US Envoy’s Visit.
• DOJ Urged to Investigate US Environmental NGOs for Foreign Influence.
  

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).