Bear Radar

Style Underperformer:

• Small-Cap Value -2.5%

Sector Underperformers:

• 1) Airlines -4.9% 2) Oil Service -4.9% 3) Energy -4.8%

Stocks Falling on Unusual Volume: 

• PFN, LUV, LTCH, GTHX, ZM, MSGE, CANO, TSCO, EPD, DAL, SAVE, AAL, FGEN, PK, RCL, MPLX, PTRA, AHCO, CCL, INSW, ZGNX, SPG, NCLH, SPR, HA, CNK, UAL, BJRI, CUK, GES, INMB, FUN, APR, SIX, RNG, FGNA, MTDR, KRG, RRGB and MAXR
  

Stocks With Unusual Put Option Activity:

• 1) WMC 2) PCG 3) GPS 4) XRT 5) XME
  

Stocks With Most Negative News Mentions:

• 1) SLB 2) RNG 3) OXY 4) DAL 5) CCL
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth -.8%

Sector Outperformers:

• 1) Biotech +.4% 2) Homebuilding -.1% 3) Video Gaming -.1%

Stocks Rising on Unusual Volume:

• NRXP, CYTK, PRLD, OSUR, AMRS, KNBE, AVPT, MRNA, CHWY, LEGN, NVRO, EWTX, SPCE, NLS, FIVN, DOCN, SAVA and NVDA
  

Stocks With Unusual Call Option Activity:

• 1) NYMT 2) HES 3) ADNT 4) FLR 5) FEYE

Stocks With Most Positive News Mentions:

• 1) AMRS 2) MRNA 3) AN 4) NVDA 5) OSUR
  

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running +25.7% Above 100-Day Average 
• 0 Sectors Rising, 11 Sectors Declining
• 15.9% of Issues Advancing, 81.7% Declining
• 16 New 52-Week Highs, 79 New Lows
• 76.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 42.5%
  
• Bloomberg Global Risk-On/Risk-Off Index 2,372.0 -495.0 points
• Russell 1000: Growth/Value 17,624 +.91%
  
• Vix 23.1 +24.8%
• Total Put/Call .98 -3.0%
• TRIN/Arms 1.6 -3.7%

Monday Watch

Today's Headlines

Bloomberg:                   

• China Military Held Beach Assault Drill to Warn Taiwan, U.S. 
• China Signals End to $2 Trillion U.S. Stock Listing Juggernaut.
• Congress Takes Aim at China’s Recruitment of Talent in U.S.
• U.K.’s Big Reopening Marred By Covid Chaos and Johnson’s U-turn.  
• Global Growth Boom May Disappoint, Morgan Stanley’s Sharma Warns.
• Indonesia Daily Covid Deaths Top Brazil as the World’s Highest.
• Political Risk Back on Radar in Emerging-Market Currency Trades.
• Crypto Traders Loved Big Leveraged Bets Until Inexplicable Crash.  
• Stocks Set to Fall, U.S. Futures Weaken; Oil Slips: Markets Wrap.
• UAE Stocks End Little Changed With OPEC+ Deal Eyed: Inside EM. 
• Oil Declines After OPEC+ Agrees to Boost Production Into 2022.   
• Gauff Out of Olympics; Social Media Criticized: Virus Update.
• Jeff Bezos and ‘Star Wars’ Inspire Hunt for $1 Trillion Space Unicorn.
  
• Fed Has a Sunny View of Inflation While Companies See the Clouds.
• GOP Senators Say No ‘Arbitrary’ Deadline for Infrastructure Vote.  
• Record Steel Prices Inject Life Into Long-Suffering Industry.   
• Court Blocks Lifting of Pandemic Rules for Florida Cruise Ships.

Wall Street Journal:

• Red-Hot U.S. Economy Expected to Cool From Here.
• Record Stock Rally Ignores Wall Street’s Phobia About Optimism.
• China Steels Itself for Fight to Roll Back Rising Commodities Prices.
• Selling Your Used Car? You Could Turn a Profit.
• Biden’s Self-Refuting Progressivism.
• How to Be an Anticapitalist.
• Covid-Related Problems Mount as Athletes and Officials Arrive for Tokyo Olympics.
• Escalating Materials Prices Turn Construction Bids Into a Gamble.

Fox News:  

• Mark Levin reveals the two groups pushing 'inhumane' ideology forward – and what they really want.
• Gunfire outside MLB game in DC sends fans, players running; 3 wounded.
• Gates visited Epstein's NYC townhouse multiple times, new book claims.

CNBC:

• OPEC and allies target full end to oil production cuts, increase supply as prices climb.
• Big earnings are expected from these stocks, Wall Street’s top analysts say.
• Chipotle, Target use TikTok to find the workers they need in tight job market. 

Zero Hedge: 

• "Most People Don't Wanna Turn To Brian Stelter To Tell Them What's Real": CNN Guest Obliterates 'Reliable Sources' Host.
• Did Japan Just Warn The US Of An Impending Joint Attack From China And Russia?
• Xiaomi Dethrones Apple As The World's #2 Smartphone Maker.
• Uber's $59 Million Fine Over Sexual Assault Data Was Just Reduced To $150K.
• Goodhart's Law: When Investors Mistake The Distortions Of The Wall Of Money For Wisdom.
• Greenwich Housing Market Has Gone From Bust To Boom As Buyer's Now Guaranteed To Overpay.
• Morgan Stanley: This Cycle Will Be "Hotter But Shorter" Than Usual.
• Top Biden Officials Now Embracing COVID Lab-Leak Theory.
• Republican Confidence In "Science" Collapses: Gallup.
• Now They Are Saying That The Republican Party Is The #1 "National Security Threat To The United States Of America".
• "Stunning Divergence": Latest Bank Data Reveals Something Is Terminally Broken In The US Financial System.
• Damage Control: Elon Musk Admits Cybertruck Could "Flop", Writes Off Summon Feature As Just A "Fun Trick".
• OPEC+ Agrees To Boost Output After Saudi-UAE Reach Production Compromise.
• Fans Panic Exit Washington Nationals' Game After Triple Shooting Outside Nats Stadium.
• Investors Are On The Lookout For A Crash. But Prices Keep Going Up.
• UK Government Minister Suggests New Lockdown Before The Current One Has Even Ended.
• It's A Jeep Thing: Iconic Wrangler Will Be Able To Drive Underwater, Company Teases.
• French Face 6 Months In Jail For Entering A Bar Or Restaurant Without A COVID Pass.
• The World's Tech Giants, Compared To The Size Of Nations' Economies.
• Are Justices Kavanaugh & Barrett Feeling The Threat Of Expansion?

MarketWatch.com:         

• Prices are soaring and Americans aren’t happy about it. Don’t worry, the Fed says.   
• Mortgage rates experience ‘summer swoon’ as Fed maintains status quo.
  

NewsMax: 

• DeSantis Calls Out Biden's 'Double Standard' on 'Political' Migration.
• Trump: Biden, Crime 'Far Worse' Than Even I Thought in 'Fake Election'.

TheGatewayPundit.com:

• Large Crowd Protests at White House Over Crackdowns in Cuba After Biden Blames Covid, Downplays Communism; Thousands Also Gather in Miami.
• Tucker Carlson: Hunter Biden ‘Can Do Literally Whatever He Wants’ (VIDEO).
• New UK Study: People Who Have Been Vaccinated Make Up 47% of New COVID Cases. 
• Macron Threatens Business Owners Who Fail to Check Patrons’ Covid Passports with One Year Prison Sentence, €45,000 Fine.
• Cyber Ninjas Found So Many Issues with the Voting Machines and Processes in Maricopa County It’s a Wonder the Previous Auditors Didn’t Find These Issues Too.
• MUST SEE: Newsmax Reporter Emerald Robinson Questions Dr. Fauci on Wuhan Lab Funding — Watch Him Scurry Away (VIDEO).
• PROJECT VERITAS: Insider Leaks Critical Race Theory ‘Indoctrination’ with Children’s Toy Manufacturer Hasbro (VIDEO).

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Confirmed Global Covid-19 Cases(7-day rolling average graphs by country).
• FT.com:  Fully Vaccinated by Country(graph)
• NYTimes.com:  Trends and Clusters.
  
• Brown School of Public Health:  Covid Severity by State/County(map).
• CovidActNow:  Covid Severity by Metro Area.
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. 
• Carnegie Mellon: Covid Symptom Searches on Google.
• Safegraph.com:  Commerce Patterns(graphs).

Night Trading

• Asian indices are -1.25% to -.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 84.5 unch.
• China Sovereign CDS 37.5 unch.
• Bloomberg Emerging Markets Currency Index 60.05 -.09%.
• Bloomberg Global Risk-On/Risk Off Index 2,820.0 -46.0 points.
• Volatility Index(VIX) futures 20.96 +1.6%. 
• Euro Stoxx 50 futures -.65%.
• S&P 500 futures -.40%.
• NASDAQ 100 futures -.24%

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (AN)/2.57
• (CALM)/.26
• (PLD)/.99
• (TSCO)/2.96
  

After the Close:

• (IBM)/2.29
• (JBHT)/1.57
• (PPG)/2.19
• (STLD)/3.46
• (ZION)/1.26
  

Economic Releases

10:00 am EST

• The NAHB Housing Market Index for July is estimated to rise to 82 versus 81 in June.

Upcoming Splits

• (NVDA) 4-for-1
  

Other Potential Market Movers

• The Japan inflation data report could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are lower, weighed down by commodity and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon.  The Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:             

• China Dismisses U.S. Warning on Hong Kong as ‘Pure Nonsense’.  
• Iran Plans First Oil Export From Gulf of Oman Port Next Week.
• Latin America Turmoil Intrudes in Biden’s Focus on China, Europe.
• OPEC+ Calls Meeting for Sunday After Progress Toward Deal.    
• N.Y. Cases Above 1,000; Vaccine Protests in France: Virus Update.
• Social Media Buzz: Biden Blames Facebook, Olympic Village, #DACA.  
• How Derivatives Amp Up Already Heady Crypto Markets.  
• Charting Global Economy: Inflation Keeps Building in U.S., U.K. 
• Relentless Bond Rally Has Traders Wondering What They Missed.  
• Lagarde’s Big Change Means ECB Has a New Message: Eco Week Ahead.

Wall Street Journal:

• Crypto ‘Yield Farmers’ Chase High Returns, Risk Losing It All.
• Censorship Coordination Deepens.
• Illinois Democrats Play Politics With the State’s Electricity.

CNBC:

• How the U.S. became the world’s new bitcoin mining hub. 
• More than 60 people decontaminated after a chemical leak at a Six Flags water park in Texas.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (SHOP), (RH), (VNQ), (AMRS), (ZY), (SRNG), (ASO) and (SAP).

MarketWatch.com:       

• Megacap tech stocks have been on a roll. Why they could thrive even if interest rates turn higher again.   
• These big tech stocks, including Square and Tesla, are expected to show the best sales growth as the U.S. economy expands.

Fox News:

• Victor Davis Hanson: The secret Biden, Obama, Hillary won't say out loud about today's Democrats.
• Ghislaine Maxwell was a 'tyrant' with Epstein victims, new book says.
  

Newsmax: 

• Rep. Tenney: Dems Have 'No Interest' in Working With GOP. 
• Sen. Ron Johnson: COVID Turned Big Govt Into Big Brother.
  

Zero Hedge:

• White House Admits To Flagging Posts To Be Censored By Facebook.
• David Stockman On Soaring Debts And Plummeting Yields...
• "This Is Worrying Me Quite A Bit": mRNA Vaccine Inventor Shares Viral Thread Showing COVID Surge In Most-Vaxxed Countries. 
• Facebook Responds With Facts After Biden Proclaims Big Tech Is "Killing People" By Not Censoring Speech.
• "This Is Reality" - NYC Is Reopening, But Businesses Aren't Coming Back.
• ETF Inflows Set To Smash Record In 2021. 
• General Labor Strike Planned Across US.
• Oil matters.
• Protests Erupt in France As Macron Mandates Covid Vaccine Passports (VIDEO).
• Southern Border Sees Record-Breaking Surge In Illegal Crossings Despite Extreme Heat.
• EU, US Leaders Warn About China Setting Standards On AI.
• Prominent Reuters Journalist Killed In Fierce Clashes Between Taliban & Afghan Forces.
• Five Times More Children Committed Suicide Than Died Of COVID-19 During Lockdown: UK Study.
• Chinese Communist Party Is "Cornered" As World Awakens To Its Abuses.
• Lego Demands US Gunmaker To Halt Sales Of "Block 19" Pistol .
• Amazon Wins FCC Approval For Radar Device To Monitor Sleep.
• "Woke" Pregnant Man Emojis Could Be Introduced This Year.

TheGatewayPundit.com:

• 121 Dead in South Africa, Gun-Owners and Organized Militias Save Local Communities from Complete Devastation. 
• USA Today “Fact-Checks” GP and Politico Report on Biden Monitoring Private Communications — Then Confirms DNC Has Been Flagging “Misinformation” for Facebook Since 2020.
• IT BEGINS: Conservative MI Group That Hosted America’s First Lockdown Protest Will Host Huge ‘TRUMP WON’ Rally.
• DAMAGE CONTROL: Twitter Adds Bogus Fact Check Claiming “No Evidence of Widespread Fraud” in AZ Election After Audit Exposes Massive Fraud in Maricopa County.
• Los Angeles County Sheriff Says He Will Not Use His Department’s Resources to Enforce New Mask Mandate.

The Epoch Times:  

• 22 Years of ‘Horrific Abuses’: Faith Group Demands End to Communist China’s Repression.

KFF:

• How fast virus is growing by state.
• Vaccinations by Race/Ethnicity.
  

Our World in Data:

• New Confirmed Global Covid-19 Cases(7-day rolling average graphs).

Carnegie Mellon:

• Covid-Like Symptoms in Community.

Evening Headlines

Bloomberg:         

• Bolsonaro Doing Well But to Remain Hospitalized, Doctors Say.  
• Over 1 Million Cubans Evade Internet Curbs With U.S.-Backed Tech.
• Oil Posts Biggest Weekly Loss Since March on Virus Comeback.
• White House Not ‘Sitting on Our Hands’ About Inflation, Biden Adviser Says.
  
• Goldman Brushes Aside Stocks’ Volatile Day as Mere Options Noise.
• Wall Street Is Paying Bankers More Than Ever to Cloak a Brutal Work Life.
• Ethereum Co-Founder Says Safety Concern Has Him Quitting Crypto.  
• New Obesity Drug Must Convince Insurers That It’s Worth the Cost.  
• Charting Global Economy: Inflation Keeps Building in U.S., U.K.

Wall Street Journal:

• Retail-Sales Gains Bolster U.S. Economic Recovery.
• The Woke Threat to Philanthropy.
• Progressives Punish ‘Honorary Whites’ but Aren’t Helping Blacks.
• Yield Spread Highlights Embrace of Riskier Debt.
• China Targets Tibet in Growing Ethnic Assimilation Campaign.

CNBC:

• Amazon asked Apple to remove an app that spots fake reviews, and Apple agreed.
• The mystifying bond market behavior could last all summer.
• Earnings could be the biggest driver for markets in the week ahead as investors watch bonds.
• Treasury Secretary Janet Yellen to discuss stablecoins with regulators next week.
• U.S. warns companies about the risks of doing business in Hong Kong as China clamps down on rights.

IG:

• Weekend Markets Trading Live.

Fox News:

• Biden accuses Facebook of 'killing people' with misinformation, WH ripped for backing censorship.
• NAACP leader lashes out at critical race theory opponents.    
  

Zero Hedge:

• Betting On The Everything Bubble: Governments Worldwide Are Testing The New Limits Of Debt.
• 'Defund the Police' Advocate Rep. Cori Bush Spent $54,000 On Private Security Company: FEC.
• The Greens Hijack Biden's $3.5 Trillion Budget Proposal (That Could Be A Blessing).
• Biden Mulls Intervention In Cuba To Provide WiFi Remotely.
• Olympic Staffer Hospitalized In First Serious COVID Case Tied To Summer Games.
• Federal Judge Rules DACA Is Illegal, Blocking New Applications.
• California Postpones New Social Justice Math Framework.
• Federal Prosecutor Paused Hunter Biden Investigation Before Election, Shielding Then-Candidate Joe From Public Embarrassment.
• NYPD Releases Shocking Video Of Daytime Execution-Style Killing Of Man Riding Citi Bike.
• Illinoisans Would Pay 40% Less Property Tax If The State Spent At Levels Where Students Perform Better: Florida.
• Biden Admits Communism Is A "Failed System", Socialism's No Better, & Cuba A "Failed State".
• What Happens When The Chickens Come Home To Roost?
• Big-Tech Breaks Weekly Win Streak, Bonds Shrug Off Inflation-Fest.
  

TheGatewayPundit.com:

• INVASION: Almost 190,000 Illegals Crossed the Border in June, Highest of any Month; Now Over 1 MILLION for the Year.
• Here We Go: CDC Director Rochelle Walensky Warns of “Pandemic of the Unvaccinated” (VIDEO).
• Chicago To Dispatch Mental Health Experts On Some 911 Calls Instead Of Cops.
• US Attorney in Delaware Kept Hunter Biden Investigation Secret During 2020 Campaign.
• Trump Spokeswoman on AZ Audit Revelations: “A Crime Was Committed on Nov. 3rd – This Is a Fraud – Election Never Should Have been Certified” (Video).

KFF:

• How fast virus is growing by state.
• Vaccinations by Race/Ethnicity.
  

Our World in Data:

• New Confirmed Global Covid-19 Cases(7-day rolling average graphs).

Carnegie Mellon:

• Covid-Like Symptoms in Community.