Bear Radar

 Style Underperformer:

• Large-Cap Value -.2%

Sector Underperformers:

• 1) Biotech -1.5% 2) Medical Equipment -1.2% 3) Steel -1.1%

Stocks Falling on Unusual Volume: 

• X, DIS, SNAP, PTCT, OSCR, FLYW, Z, IONS, CGEM and RVNC
  

Stocks With Unusual Put Option Activity:

• 1) JNK 2) MNKD 3) CF 4) Z 5) SFIX
  

Stocks With Most Negative News Mentions:

• 1) RVNC 2) IONS 3) LTCH 4) ZG 5) GSHD
  

Charts:

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

Bull Radar

 Style Outperformer:

• Large-Cap Growth +.7%

Sector Outperformers:

• 1) Shipping +1.9% 2) Retail +1.7% 3) Homebuilding +1.5%

Stocks Rising on Unusual Volume:

• BTU, M, DV, TASK, GWH, METC, RIOT, LOKB, CTRN, PLBY, BYRN, MARA, AFRM, SOFI, ARLP, GNK, OLN, MTDR, BBBY, XPOF, RH, PLUG, RDW, SKYT, NET, WOOF, ITCI, DEN, OXY, ROKU, CLSK, COIN, LZ, CHRW, SLGC, CDW, CEIX, ENPH, OCUL, ACI, SWIM, MBI, CWH, LCID, OII, STT, ETSY, SNCY, AMN, TSCO, ETSY, SD, JWN, SNCY, FB, ZUMZ, BRBR and GPS
  

Stocks With Unusual Call Option Activity:

• 1) ADMP 2) ACI 3) SRTY 4) COUP 5) AM

Stocks With Most Positive News Mentions:

• 1) BTU 2) FCEL 3) OXY 4) CLAR 5) ADMP
  

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -7.5% Below 100-Day Average 
• 8 Sectors Rising, 3 Sectors Declining
• 48.1% of Issues Advancing, 48.6% Declining
• 102 New 52-Week Highs, 35 New Lows
• 61.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 50.7%
  
• Bloomberg Global Risk-On/Risk-Off Index 3,446.0 -5.0 points
• Russell 1000: Growth/Value 17,638 +.62%
  
• Vix 16.5 +1.4%
• Total Put/Call .78 -11.4%
• TRIN/Arms .91 +33.3%

Monday Watch

Night Trading

• Asian indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 88.75 -6.75  basis points.
• China Sovereign CDS 49.25 -4.75 basis points.
• Bloomberg Emerging Markets Currency Index 58.76 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 3,411.0 -39.0 points.
• Volatility Index(VIX) futures 20.2 +.36%. 
• Euro Stoxx 50 futures +.02%.
• S&P 500 futures -.08%.
• NASDAQ 100 futures -.21%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (ACI)/.45
• (PHG)/.39
• (STT)/1.92
  

After the Close:

• (HXL)/.09
• (STLD)/4.89
• (ZION)/1.36
  

Economic Releases

9:15 am EST

• Industrial Production MoM for Sept. is estimated to rise +.2% versus a +.4% gain in Aug.
• Capacity Utilization for Sept. is estimated to rise to 76.5% versus 76.4% in Aug.
• Manufacturing Production for Sept. is estimated to rise +.1% versus a +.2% gain in Aug.
  

10:00 am EST

• The NAHB Housing Market Index for Oct. is estimated to fall to 75.0 versus 76.0 in Sept.

4:00 pm EST

• Net Long-Term TIC Flows for Aug.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Quarles speaking, (AAPL) Mac Event and the Bank of Canada survey data could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.

Today's Headlines

Bloomberg:                 

• Spain Is Canary in the Mine for Europe’s Emerging Energy Crisis.
• Just-in-Time Economy Becoming a Problem for Europe, Lagarde Says.
• Cars Get Stuck at U.S. Garages for Weeks in Spare-Parts Shortage.
• Math Quants Could Disrupt Process That Sways Power in Washington.
• Bond Traders Spy Opportunities in Big Supply-Demand Shift Ahead.
  
• Cars Get Stuck at U.S. Garages for Weeks in Spare-Parts Shortage.  
• Hollywood’s Powerful IATSE Union Says Long Hours Must Stop.
• Goldman Says China Won’t Cut Reserve Requirement Ratio This Year.  
• Silence Ordered for Chicago Police Union Head in Vaccine Fight.

Wall Street Journal:  

• Some Sell Children as Afghanistan Sinks Into Destitution.
• Facing Shortfalls, Pension Managers Turn to Risky Bets.
• No More Trillions.  
• Come to Miami for Sunshine, Low Taxes—and Normal Life.  
• Education Horror Show, Continued.
• Teen Girls Are Developing Tics. Doctors Say TikTok Could Be a Factor.
• California Races to Find Power to Offset Plant Closures.
• As Inflation Rises, Beware of the Money Illusion. It May Cost You.

IG:

• Weekend Markets Trading Live.

CNBC:

• Apple is poised to finish transforming its MacBook lineup on Monday.
• Inside TSMC, the Taiwanese chipmaking giant that’s building a new plant in Phoenix   Porsche Taycan, the company’s first fully electric model, outsells flagship 911 sports car. 
• Cramer’s week ahead: It’s time to be constructive as earnings season picks up.

MarketWatch.com:                  

• The Dow is on track for its best October in six years and third-quarter earnings are strong so far. What could go wrong?
• Brace for shortages of bikes, toys — and more —this holiday season.  
• Opinion: How to beat inflation: Favor stocks of companies that have the luxury of pricing power — but whose costs aren’t rising.  
• One more worry for stressed consumers: Global food prices hit a decade high.

Fox News: 

• Biden's pick to lead border security pushed far-left 'sanctuary city' policies as police chief, docs reveal.
• DeSantis predicts outcome of Biden's anticipated COVID vaccine mandate.

Newsmax: 

• Cities, Police Unions Clash as Vaccine Mandates Take Hold. 
• US Offers Unspecified Payments to Kin of Botched Kabul Drone Attack's Dead.

Reuters:

• South Africa has administered at least 19,899,964 doses of COVID vaccines so far. Assuming every person needs 2 doses, that’s enough to have vaccinated about 17.0% of the country’s population(one of world's lowest rates). COVID-19 infections are decreasing in South Africa, with 697 new infections reported on average each day(8 infections per 100K people reported last 7 days). That’s 3% of the peak — the highest daily average reported on July 7.
• Singapore has administered at least 9,787,176 doses of COVID vaccines so far. Assuming every person needs 2 doses, that's enough to have vaccinated about 85.8% of the country's population(3rd best rate in world). Singapore is reporting 3,045 new infections on average each day(373 infections per 100K people reported last 7 days), 92% of the peak - the highest daily average reported on Oct. 9.
  

Our World in Data:

• Singapore is seeing the number of COVID-19 patients in it's ICUs hit record levels despite the 3rd best vaccination rate in the world(85.8% fully vaxxed).

American Thinker:

• VAERS, our vaccine adverse effect reporting system, showed at the beginning of this week 16,000 deaths, 23,000 disabilities, 10,000 MI/myocarditis, 87,000 urgent care visits, 75,000 hospital stays, and 775,000 total adverse events. The VAERS system is widely known to under-report events by 1-10%.

WXYZ-TV Channel 7:

• After the vaccines were available to everyone, did you lose an unvaccinated loved one to COVID-19? Comment section:

Zero Hedge:   

• Aluminum Shortages Next As "Magnesium Supply Dries Up".
• China Coal Prices Soar To Record As Winter Freeze Spreads Cross The Country.
• China Releases Humiliating Footage Of Blindfolded Indian Troops Captured On Disputed Border.
• German State Allows Food Stores To Ban The Unvaccinated.
• UN Climate Change Conference Reportedly Using Diesel Generators To Charge Teslas Being Used As Shuttles.
• Distraction As Policy While Our Economic Rome Burns.
• Assistant To US House Sergeant-At-Arms Charged With 10 Child Pornography Felonies.
• Facial Recognition Apps For Home Quarantine A "Privacy Disaster": Report.
• Global Auto Names On Watch After Toyota Slashes November Production Estimate By (Another) 15%.
• Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid 'Green Pass' Takes Effect.
• Alabama School Districts Hit With Food Shortage, Warn Of Remote School Days.
• Japan's New Prime Minister Admits Abenomics Was A Failure.
• Luongo: "When You Buy Into Fear, You Sell Your Reason".
• Former Director Of National Intelligence Issues Warning Over Biden Buying Chinese Drones For Feds.
• The Science Of Propaganda Is Still Being Developed And Advanced.
• Islamic Terrorist Who Planned Kalashnikov Attack Arrived In Spain As Illegal Boat Migrant.

TheGatewayPundit.com:

• “I’m gonna fight for all of us out there, and I will continue to fight” – ICU Nurse Escorted Out of Her Job at UCLA For Not Taking the Vaccine (VIDEO).
• Key Part of Biden’s Climate Agenda – to Get Rid of Coal and Gas-Powered Plants – Likely to be Cut From Spending Bill Because of Manchin Opposition.
• Judge Orders Chicago’s Police Union President John Catanzara to STOP TALKING and Encouraging Members to Defy Mayor Lightfoot’s Vaccine Mandates.
• Arizona Attorney General Mark Brnovich: Facebook Admits to Aiding Human Smuggling.
• Democrats Repaying Anti-Trump Republican Adam Kinzinger With Redistricting That Will End His Career. 
• Terry McAuliffe Enters Packed Restaurant without a Mask Hugging People Just Days After He Called a Maskless Republican Operative “Dangerous” (VIDEO). 
• Conservatives Resign From Biden’s Supreme Court Commission. 
• US Navy Secretary under Lloyd Austin Threatens to Make Navy SEALs Pay Back the Cost of Their Training if They Don’t Get Vaxxed.
• Delta Airlines CEO Ditches Joe Biden’s ‘Divisive’ Covid Vaccine Mandate (VIDEO).
• ‘Illegal Religious Texts’ – Apple Removes Quran and Bible Apps in China at the Request of Govt Officials.
• Governors Ready To Sue Biden Over Vaccine Mandate …(But Mandate Doesn’t Yet Exist).
• Baltimore Police Union Fights Back – Tells Officers Not To Reveal Vaccine Status.
• WATCH: North Carolina Lt. Gov Responds Back To Controversy And Exposes The ‘Filth’ The Left Wants Taught In Public Schools (VIDEO). 
• QUIT YOUR COMPLAINING! White House Press Secretary Says Biden Inflation Is a “Good Thing” because “People are Buying Things”.
• Lt. Col. Scheller Who Scrutinized Biden’s Historic Disaster in Afghanistan Slapped with $5,000 Dock in Pay and Reprimand.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).

Evening Headlines

Bloomberg:            

• U.K. Politician’s Murder Was Terrorist Attack, Police Say.
• Nuclear Quants Say Watch China to Predict Iran Talks Outcome.  
• Ryan Petersen on How Global Supply Chains Have Gotten Even Worse.
• Global Energy Crisis Prompts Asia to Turn to U.S. for Oil. 
• OPEC+ Is Hesitant About Boosting Oil Supplies: Here’s Why.  
• Base Metals Surge as Energy Crisis Knocks Out More Supply.
• Vaccine Mandates Hit Amid Historic Health-Care Staff Shortage.    
• First U.S. Bitcoin Futures ETF May Debut Monday, Filing Says.  
• Goldman Sachs CEO Says Wage Inflation Is Spreading Through Economy.  
• Stock Bulls Battle Fed and Win With Resolve That Shocks Skeptics.  
• U.S. Labor Unions Are Having a Moment.  
• Fed Rate Hike in June Has Become a Coin Flip as Yields Climb.  
• Apple Shrugs Off Supply-Chain Woes as Shares Head for Best Week in Six.

Wall Street Journal:  

• Federal Judges or Their Brokers Traded Stocks of Litigants During Cases.
  
• Big Government Isn’t Popular Again. 
• Dave Chappelle May Help Tame Wokeness.
• Biden Suddenly Loves Frackers.
• Netflix Fires Employee Who Leaked Information About Dave Chappelle Special.
• America’s Workers Are Leaving Jobs in Record Numbers.
• Killing of British Lawmaker Was Terrorism, Police Say.
• J.B. Hunt Expects Strong Freight Demand to Extend Into 2022.

IG:

• Weekend Markets Trading Live.

CNBC:

• Risk of mRNA Covid booster causing heart inflammation in young adults continues to worry scientists, doctor says.
• Amazon Web Services plans to design more of its own semiconductors, CEO says.
• Jim Cramer says strong bank earnings have changed the tone of the stock market.
• Scientists question FDA on ‘scant’ J&J booster data and speedy review.

Fox News: 

• Former Obama ethics official slams Biden White House for avoiding questions on Hunter Biden's artwork.
• 'Squad' member drops another $65k on security while pushing to 'defund police'.
• Navy SEALs allegedly face disturbing threats for refusing to get COVID shot.

Newsmax:  

• Sen. Roger Marshall: ‘Bidenflation’ Here to Stay.

Zero Hedge:   

• Here's The Truth Behind Biden's 24/7 Port Operations Pledge.
• "2022: The Year Of The Rate Shock": The Fed's Policy Mistake Already Happened And Next Year Everyone Pays.
• Friday "Humor": Vaccine Efficacy 'Science' Explained.
• Flooding In West China Destroys Agricultural Production.
• "It Was Just A Big Poker Game": Michael Dell Talks Dealing With Carl Icahn, Semi Shortage, In New Interview.
• 4 In 10 TSA Employees Remain Unvaccinated As Deadline Looms.
• #EmptyShelvesJoe Trends On Twitter Amid Supply Chain Snarls .
• Seattle School Cancels Halloween "Pumpkin Parade"; Says It "Marginalizes Students Of Color".
• "Expert" Calls For Denying Life-Saving Hospital Treatment To The Unvaccinated.
• Achieving Equity Through Mediocrity: Why Elimination Of Gifted Programs Should Worry Us All.
• COP-Out? World's Largest Polluter Won't Attend Climate Summit, Kerry Pessimistic On Progress.
• Stocks, Bonds, Crypto, & Copper Soar As Confidence Crashes Near Decade-Lows.

TheGatewayPundit.com:

• NOT MAKING HEADLINES – EXCLUSIVE: AG Garland’s Wife Is an Advisor Closely Linked to Brennan Center and Connected with Far-Left Groups Working to Prevent 2020 Election Audits — HE MUST RECUSE!
• Project Veritas: Pfizer Scientist Admits Covid Antibodies Transfer During Pregnancy “Through the Umbilical Cord” (VIDEO).
• What Supply Chain Crisis? Transportation Secretary Pete Buttigieg Has Been on Paid Paternity Leave Since August.
• Shock Poll: Biden Approval by Independents Hits the 20s.

The Epoch Times:

• CCP Poses ‘Insider Threat’ to American Companies: Former Pentagon Official.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).