Friday, May 13, 2022

Morning Market Internals

NYSE Composite Index:

  • Volume Running +22.6% Above 100-Day Average 
  • 0 Sectors Declining, 11 Sectors Rising
  • 78.9% of Issues Advancing, 16.6% Declining
  • 8 New 52-Week Highs, 92 New Lows
  • 22.6% of Issues Above 200-day Moving Average
  • Average 14-Day RSI 34.2% 
  • Bloomberg Global Risk-On/Risk-Off Index 4,001.0 +442.0 points
  • Russell 1000: Growth/Value 15,021.0 +1.48%
  • Vix 29.5 -7.3%
  • Total Put/Call .95 -24.6%
  • TRIN/Arms .40 -39.4%

Thursday, May 12, 2022

Friday Watch

Night Trading 

  • Asian equity indices are +.75% to +1.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 133.0 +3.25 basis points. 
  • China Sovereign CDS  85.75 +2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 51.7 unch. 
  • Bloomberg Global Risk-On/Risk Off Index 3,643.0 +85.0  points.
  • Volatility Index(VIX) futures 30.9 -1.3%.
  • Euro Stoxx 50 futures +.92%.
  • S&P 500 futures +.71%.
  • NASDAQ 100 futures +1.03%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of Note
Economic Releases
8:30 am EST
  • The Import Price Index MoM for April is estimated to rise +.6% versus a +2.6% gain in March.
  • The Import Price Index Ex-Petrol MoM for April is estimated to rise +.8% versus a +1.1% gain in March.
  • The Export Price Index MoM for April is estimated to rise +.7% versus a +4.5% gain in March.
9:00 am EST
  • Bloomberg May US Economic Survey.
10:00 am EST
  • The Univ. of Mich. Consumer Sentiment for May is estimated to fall to 64.0 versus 65.2 in April.
  • The Univ. of Mich. 1Y Inflation Expectations Index is estimated to rise to +5.5% versus expectations of a +5.4% gain in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Kashkari speaking and the Eurozone Industrial Production report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly 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 day.

Bear Radar

Style Underperformer:

  • Large-Cap Growth -1.8%
Sector Underperformers:
  • 1) Gold & Silver -6.2% 2) Airlines -3.3% 3) Banks -2.7%
Stocks Falling on Unusual Volume: 
  • LECO, BSTZ, ENTA, PFLT, FBRT, ACRE, GBDC, GOF, MSTR, EPR, MCW, PTLO, SGRY, EIX, CSQ, LNC, RYI, AAPL, MASS, SBNY, VST, HTGC, CLAR, GM, ZEN, LAND, JXN, RA, ABC, ECC, SI, FLYW and BROS
Stocks With Unusual Put Option Activity:
  • 1) CIM 2) REI 3) INVH 4) PACB 5) TPR
Stocks With Most Negative News Mentions:
  • 1) BROS 2) BA 3) ABC 4) MSTR 5) ASND
Charts:

Bull Radar

Style Outperformer:

  • Small-Cap Growth +1.3%
Sector Outperformers:
  • 1) Alt Energy +3.9% 2) Homebuilders +3.3% 3) Retailers +3.0%
Stocks Rising on Unusual Volume:
  • VTNR, GME, ETSY, PTON, CHWY, EYE, PHR, DDS, BSY, SCPL, EXFY, TWST, HLF, WEN, AHCO, UTZ, AMC, W, RLAY, VCYT, WRBY, GSHD, NCNO, RCUS, HRB, COIN, PLL, SQ, ARWR, ITOS and CFLT
Stocks With Unusual Call Option Activity:
  • 1) KSS 2) RNG 3) VST 4) HZNP 5) TPR
Stocks With Most Positive News Mentions:
  • 1) APP 2) SQSP 3) ETNB 4) TPR 5) DDS

Morning Market Internals

NYSE Composite Index:

  • Volume Running +44.3% Above 100-Day Average 
  • 6 Sectors Declining, 5 Sectors Rising
  • 55.9% of Issues Advancing, 40.8% Declining
  • 3 New 52-Week Highs, 785 New Lows
  • 23.4% of Issues Above 200-day Moving Average
  • Average 14-Day RSI 35.3% 
  • Bloomberg Global Risk-On/Risk-Off Index 3,550.0 -209.0 points
  • Russell 1000: Growth/Value 14,953.50 +.77%
  • Vix 32.6 +.06%
  • Total Put/Call 1.14 +.88%
  • TRIN/Arms .68 -38.2%

Wednesday, May 11, 2022

Thursday Watch

Evening Headlines

Bloomberg:       
 Wall Street Journal:
Fox News:    
Zero Hedge: 
TheGatewayPundit.com: 
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -1.25% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 129.75 -1.5 basis points. 
  • China Sovereign CDS  83.25 -1.75 basis points.
  • Bloomberg Emerging Markets Currency Index 51.9 +.03%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,719.0 -40.0 points.
  • Volatility Index(VIX) futures 31.4 1.1%.
  • Euro Stoxx 50 futures -1.6%.
  • S&P 500 futures +.59%.
  • NASDAQ 100 futures +.79%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (BABA)/7.24
  • (GOOS)/-.01
  • (DDS)/5.87
After the Close:
  • (AFRM)/-.41
  • (POSH)/-.22
Economic Releases
8:30 am EST
  • PPI Final Demand MoM for April is estimated to rise +.5% versus a +1.4% gain in March.
  • PPI Ex Food and Energy MoM for April is estimated to rise +.6% versus a +1.0% gain in March.
  • Initial Jobless Claims for last week is estimated to fall to 192K versus 200K the prior week.
  • Continuing Claims is estimated to fall to 1368K versus 1384K prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Daly speaking, UK GDP report, 30Y T-Note auction, weekly EIA natural gas inventory report, (FSLY) investor day and the (NET) investor day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by technology and consumer shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.