Bear Radar

Style Underperformer:

• Large-Cap Growth -.5%
  

Sector Underperformers:

• 1) Social Media -2.1% 2) Gold & Silver -1.5% 3) Biotech -.9%

Stocks Falling on Unusual Volume: 

• CYTK, PERI, TPVG, OR, NAAS, CLDX, AI, EFC, LEGN, KRYS, BXMT, DEI, ABR, IGMS and IVR
  

Stocks With Unusual Put Option Activity:

• 1) BUD 2) ACRE 3) SAVE 4) PHM 5) KNX
  

Stocks With Most Negative News Mentions:

• 1) TUP 2) AUDC 3) PEAR 4) WDFC 5) TAL
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +.1%
  

Sector Outperformers:

• Disk Drives +3.1% 2) Oil Service +1.4% 3) Defense +1.0%

Stocks Rising on Unusual Volume:

• TGTX, EBIX, EBS, WDC, MU, GBX, NUVL, MCS, PXD, HLIT and SCLX
  

Stocks With Unusual Call Option Activity:

• 1) SVM 2) EBIX 3) EQX 4) HPQ 5) SPLK

Stocks With Most Positive News Mentions:

• 1) LVO 2) EBS 3) PXD 4) WDC 5) MU
  

Charts:

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

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open: 

• (ACI)/.68
• (KMX)/.24
  

After the Close: 

• None of note
  

Economic Releases

6:00 am EST

• The NFIB Small Business Optimism Index for March is estimated to fall to 89.7 versus 90.9 in Feb.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Kashkari speaking, Fed's Goolsbee speaking, China CPI report, 3Y T-Note auction, weekly US retail sales reports, (SAIC) investor day and the (MRNA) vaccines day could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

• Volume Running -26.1% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 9.2 +.6
  
• 8 Sectors Declining, 3 Sectors Rising
• 56.5% of Issues Advancing, 39.8% Declining
• 19 New 52-Week Highs, 21 New Lows
• 42.6%(+.6%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 55.0 unch.
  
• Bloomberg Global Risk-On/Risk-Off Index 53.3 +1.5%
  
• Russell 1000: Growth/Value 15,791.5 -.91%
  
• Vix 19.5 +5.8%
• Total Put/Call .84 -16.0%
• TRIN/Arms .98 +2.1%
  

Monday Watch

Today's Headlines

Bloomberg:

• Seoul Dismisses Report of US Spying on Allies, Says Ties Strong.
• Ueda Kicks Off BOJ Governorship in First Transition in a Decade.
• Currencies in Tight Ranges, US Futures Edge Up: Markets Wrap.
• Oil Pushes Higher at Week’s Open With Supply Challenges in Focus.
• OPEC+ Shock Revives Oil Bulls Even as Demand Warnings Flash.
• End May Be in Sight for Global Rate-Hike Cycle as Fed Nears Peak.
• FTX Failure Rooted in ‘Hubris,’ ‘Greed,’ Debtors Report Says.
• Twitter Reverses NPR Label, Tweaks to ‘Government Funded Media’.
• Five Things You Need to Know to Start Your Day.

Wall Street Journal:

• Intelligence Leak Circulated for Weeks Before Raising Alarm.
• Saudi Arabia-Led Oil Cuts Run Into Burst of Alternative Supply.
• WSJ Reporter’s Detention Puts Authoritarian Trend in Spotlight.
• A Biologist Explains Why Sex Is Binary. In an effort to confuse the issue, gender ideologues cite rare ambiguous ‘intersex’ cases.
• Corporate Earnings Season Seen as Next Test for Stocks.
• Private Equity’s Food Binge Goes Sour.
• China Warns Taiwan, With an Eye on Rest of the World.

Fox News:

• Former Trump AG issues chilling warning about the impact for the left's agenda..
• Local paper laments homeless crisis, high taxes, violence driving citizens to other states.

CNBC:

• Tesla to open a new Megafactory in Shanghai, China, company says.
• Top Wall Street analysts expect these five stocks to fetch attractive returns.
• China begins second day of military drills; Taiwan say it’s monitoring missiles.

Zero Hedge: 

• SFSU Responds To Alleged Assault On Riley Gaines... By Praising The Protesters.
• Macron Says Europe Should Reduce Dependence On US Dollar, Seek 'Strategic Autonomy'.
• Why Do Mainstream Democrats Hate Matt Taibbi?
• Embattled Soros-Backed St. Louis Prosecutor Sanctioned By Judge Amid New Complaints.
• Biden Admin Asks Supreme Court To Restore Bump Stock Ban.
• Are 'Woke' Companies Sponsoring Golf Pros That Fly Around In Private Jets?
• "Recession Probabilities Are Going Up At This Point": Larry Summers.
• TME Weekend: go away in May?
• Ports Of Los Angeles And Long Beach Close Due To Widespread Worker Shortages During Contract Talks.
• Don't Let Them Memory-Hole This.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• CDC Partners With 'Social And Behavior Change' Initiative To Silence Vaccine Hesitancy.
• Meet The "Woke" Rating Score Prompting Brands Like Nike And Bud To Hire Trans Influencers For Ads.
• Biden Invites Expelled Tennessee Democrats To Visit White House.
• Led By "Fat Activists", New York Considering Bill To Ban Weight Discrimination.
• Davy Jones And The Six.
• Where's The Manifesto?
• Israel Strikes Syria After Rare Rocket Attack On Golan Heights.
• Texas Senate Passes Bills Banning Child Gender Modification And Drag Shows For Kids.
• Half Of America's Top-Selling Beers Have Gone 'Woke'.
• CNN Admits Less Than One Third Of Voters Want Another Joe Biden Term.
• US Deploys Guided-Missile Sub To Gulf Region Amid Iran Tensions, Heightened Russia Presence.
• Welcome To NATOstan (Formerly Known As Europe).
• Anticipated Ukrainian Counter-Offensive Potentially Marred By Plans Leak: Reports.
• Polish MP Proposes "Anti-Bug Law" To Require Labels On Insect-Containing Foods.
• NATO To Hold Its Largest-Ever Air Exercises In June.
• Oil - "real" buyers wanted.
• Eating Meat Is The Norm Almost Everywhere.
• Escobar: Iran And Saudi Arabia - A Chinese Win-Win.
• Taiwan's Thinly Woven Diplomatic Web.
• G7 Nations To Emphasize The Importance Of Nuclear Power In Upcoming Announcement.
• Jan. 6 Rioters Fight To Await Trial At Home.

MarketWatch.com: 

• Recession threat may mean stock-market investors no longer see bad news on economy as good news.
• 4 things could shield stocks as Goldman warns of worst earnings season since pandemic.
• Cruise recalls 300 self-driving cars after one rear-ends San Francisco bus.
• With $200 million opening, ‘Super Mario Bros.’ is a box-office smash.
• Student loan ‘train wreck’: As return of regular payments loom, servicers have less staff to field expected deluge of calls.

NewsMax:

• Biden Seeks to Back Drugstores, Big Pharma in Promoting Abortion Pills.
• Gordon Chang: China's 'Utter Disrespect' for Biden 'Really Serious'. 
• Trump Rips 'Biden Disinformation Administration' on Afghanistan Blame.
• Riley Gaines: Will Sue Attackers for 'Extortion,' 'Kidnapping'.

TheGatewayPundit.com: 

• SF Death Trap: Cycling Champ Mowed Down by Car as Liberal City Compared to 3rd World Country.
• Biden’s Digital Reelection Strategy: Deploy ‘Army of Influencers’ Who Will Have Their Own Briefing Room at White House.
• Budweiser Has New Ad with Dylan Mulvaney Since the Last One Did So Well (VIDEO).
• NYC Police Search for Anti-Semitic Teens Involved in Several Passover Attacks.
• Los Angeles LGBT Center to Host Drag Queen March with Honey Davenport on Easter Sunday.
  
• French President Macron: Europe Must Reduce Its Dependence on United States.
• REVEALED: “Transgender” Who Wanted to Blow Up Colorado Middle School Planned More School Attacks (VIDEO).
• This Easter Please Remember The Jan 6ers Who Suffer in the DC Gulag.
• Andrew Cuomo Facing New Lawsuit Over Nursing Home Deaths During COVID.
• Cafe in San Francisco That Inspired Bob’s Burgers Closing Due to Inflation.
• Parents Are Turning to Easter Potatoes Due to High Egg Prices.
• It Happened Again: Former Top SF Firefighter Suffers Brain Injury in Brutal Attack Outside Front Door.
• Mother Whose Son Was Murdered in New York Unloads on Soros-Backed DA Bragg, Pledges Support for President Trump.

The Epoch Times:

• Canadian Politicians Sign Letter to CCP Official Pledging to Promote Beijing’s Image in Fighting COVID-19: Report
• Massive Number of Waste PV Panels in China Raising Concerns Over High-Cost of Recycling, Environmental Pollution
• Big Four Accounting Firms Out of Favor in China: Deloitte’s Beijing Office Penalized

Twitter:

• @DavidRozado - Mentions of terms signifying ethnic prejudice in Western news media (including Russia).
• @theinformantofc - President #Trump walks in #UFC287 to #KidRock and the crowd goes wild!! (video)
• @gatewaypundit - Merchandiser Claims No One is Buying Anheuser-Busch Products (VIDEO).
• @steve_hanke - The French continue to pack the streets in protest of Pres. Macron's government. Macron is toast. (video)
• @michaelpsenger -  Taiwan is on high alert after Chinese warships completely encircled the country today under the pretext of a planned “military exercise.” (map)
• @songpinganq - JUST IN - The payroll of all civil servants and the employees of all state-owned enterprises in China's Suzhou city will be paid with CBDC from April 2023. (video)
• @The_Real_Fly - CHINA MILITARY SAYS CARRIED OUT SIMULATED PRECISION STRIKES ON KEY TARGETS ON TAIWAN ISLAND, SURROUNDING WATERS: STATE MEDIA.
• @Breaking911 - WATCH: UFC fighter praises Trump, who is in attendance at Miami fight tonight. (video)
• @aginnt - According to this study, the cost of eliminating a single COVID infection from the past lockdowns was $28,000.
• @JanJekielek - "It is as clear a case of chemical warfare as you will find…In one year, America lost 70,000 people." #Fentanyl from #China killed more in 1 year than Vietnam killed in 12, says @NewshamGrant, author of "When China Attacks". (video)
• @BarbarianCap - Great look at the relationship between electricity consumption per capita and GDP per capita. (graph)
  

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 947,487 Reports(+1,667 from prior week) Through March 24th, 2023.
  

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Night Trading

• Asian indices are unch. to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 132.25 unch.
• China Sovereign CDS 73.75 -.75 basis point.
• China Iron Ore Spot 118.4 USD/Metric Tonne +2.1%
  
• Bloomberg Emerging Markets Currency Index 47.7 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 53.6 +1.8%.
• Bloomberg US Financial Conditions Index -.28 +1.0 basis point. 
  
• Volatility Index(VIX) futures 21.5 -.13%. 
• Euro Stoxx 50 futures n/a.
• S&P 500 futures +.02%.
• NASDAQ 100 futures -.20%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:  

• US Deploys Nuclear Submarine in Mideast Amid Iran Tension.
• US Lawmakers Discuss Bringing Starlink Into Taiwan With Tsai. 
• Musk to Visit China This Weekend With Possible Tesla Plant Stop.   
• Apple at Heart of US-China Selective Decoupling, Gallagher Says.
• South Korea to Strengthen Supply Chain Cooperation with India.
• Iran Vows to Prosecute Women, Close Businesses That Shun Hijab.
• Ukraine Latest: Russia Says It Downed Missile Over South Crimea.
• Flows and Fundamentals Make Man Group Suspicious of Stock Rally. 
• Jailbreaking AI Chatbots Is Tech’s New Pastime.
• A $1.5 Trillion Wall of Debt is Looming for US Commercial Properties.
• US Consumer Prices Are Seen Staying Firm, Testing the Fed.
• ‘How to Blow Up a Pipeline’ Turns Fossil Fuels Into a Movie Villain.
• KPMG, Goldman Sachs Faulted in Investor Suit Over SVB Failure.
• Charting the Global Economy: US Job Growth Cools; Oil Up on OPEC.
• Social Media Buzz: Abortion, Gen Z, Taiwan, the Masters.

Wall Street Journal:

• U.S. Faces Hurdles to Striking Prisoner Exchange Deals With Russia.
• Binance.US Struggles to Find Bank to Take Its Customers’ Cash.
• America Is Back in the Factory Business.
• U.S. Pushes to Assess Damage From Leak of Purported Files on Ukraine War.
• Why Musk Contends Twitter Can Disrupt Media Business.
• The Smearing of Clarence Thomas. The left gins up another phony ethics assault to tarnish the Supreme Court.
• Chicago Gets What It Voted For. Mayor-elect Brandon Johnson blames businesses for crime. 
• Confronting Your Fears in Virtual Reality Therapy.
• Car Breakdowns Cause More People to Fall Behind on Loans.
• More Workers Take Parental Leave as States, Employers Expand Eligibility.
• The Big Guide to Little Luxuries.

Barron's:

• Had bullish commentary on (MS), (PINS) and (JKHY).

Fox News:

• American visit triggers China to ramp up threats over US-Taiwan ties with bold military actions.
• Republicans warned of 'dangerous' proposals in wake of 'alarmist' UN climate report.
• Recovering addict's staggering wish for 'old-fashion heroin' as scary zombie drug hits streets. 
• Bud Light silent on social media after Dylan Mulvaney controversy.
• Critic suggests VP Harris guilty of 'incitement to insurrection' over fiery Tennessee speech.

CNBC:

• Microsoft’s $13 billion bet on OpenAI carries huge potential along with plenty of uncertainty.
• Chinese planes cross Taiwan Strait median line as angry China starts drills.
• EPA reportedly planning to announce significant limits on tailpipe emissions.

Zero Hedge:  

• CBDC Will Be Used For "Control", ECB President Admits In Vid Chat With 'Fake Zelensky'. 
• Jan. 6 Rioters Fight To Await Trial At Home.
• Ex-ABC Senior Producer Who Rolling Stone Covered For Indicted On Child Porn Charges.
• IRS Chief Reveals Hiring Plan For Armed Agents.
• Credit Crunch Arrives: Bank Lending Crashes By Most On Record In Last Two Weeks Of March.
• Twitter Vows To Crackdown On Users 'Weaponizing' Abuse-Reporting System By Making Fake Complaints.
• 'Nobody Is Safe': Former San Fran Fire Commissioner Beaten With Metal Bar.
• California's Education Priorities Are Focused On Equity Quotas.
• Multi-Tenant Apartment Building Sales Drop 74%, The Most Since 2008.
• "Not Lovin' It": McDonald's Slashes Pay Closes Offices, Layoffs Workers.
• Shots Fired: The Twitter-Substack War & Matt Taibbi's Not-So-Good-Friday.
• Who Are The Wealth Destroyers, Politicians Or Billionaires?
• Walmart Announces Plan For Nationwide EV Charging Network.
• China Sanctions Reagan Library After McCarthy’s Meeting With Taiwan President.
• Split Emerges In NATO Over Offering Ukraine 'Road Map' To Membership.
• Central Bank Digital Currency Is The Endgame, Part 2.
• The End Of Hope.
• Over 100 More Classified Docs Appear Online: US Secrets 'From Ukraine To Middle East To China'.
• 71 Chinese Military Aircraft Cross Taiwan Strait Median Line To Kick Off 3-Day 'Encirclement Drills'.
• Charts we are watching.
• US Blindsided By Saudi-Iran Normalization: CIA Director.
• On The Edge Of A Credit Crunch: February Saw Slowest Credit Card Growth In Two Years.
• New Medical Codes For COVID-19 Vaccination Status Used To Track People, CDC Confirms.
• "Explosive Growth": Nashville, Austin Job Markets Are Hot, Hot, Hot.
• Clearview AI Scraped Billions Of Facebook Photos For Facial Recognition Database.
• Source Of Starlink Outage Identified Musk Tweets, "Coming Back Online Now".

MarketWatch.com: 

• Is April now the time to activate your sell-in-May-and-go-away stock-market strategy?

NewsMax:

• Jon Stewart: Trump Arraignment Coverage 'Epic ... Media Fail'.
• Israel Starts Calling Up Reservists After Deadly Attacks.
• US Navy Sends Guided-Missile Submarine to Middle East.
• DeSantis Fla. PAC Has $80 Million.
• Matthew Whitaker: Bragg's Case 'Flimsy,' Likely to Be Dismissed.

TheGatewayPundit.com:

• Democrats Are Taking in Multi-Millions from Foreigners and No One Seems to Care.
• BREAKING: Texas Governor Greg Abbott To Pardon Uber Driver and Sgt. Daniel Perry.
• JP Morgan CEO Recommends Taking Private Land From Americans To Accelerate Green Energy Policies.
• Billionaire Investor Moves Headquarters Out Of Blue State Over New Law.
• Jeremy Brown Sentenced to 7 Years and 3 Months in Prison for Refusing to Work as an Undercover Operative for FBI on January 6 and Then Later Releasing Audio of His Meeting with FBI.
• Political Contribution to Democrats Made by Leftist Judge Juan Merchan Could Be Grounds for Ethics Investigation.
• Here We Go: Lab-Grown Chicken Meat Will Soon Hit Store Shelves and Restaurant Menus.
• Jeffery Epstein’s Former Cellmate, Former Cop Nicholas Tartaglione, Convicted of Killing 4 People.
• DC Appeals Court Sides with Corrupt DOJ – Says It’s OK to Charge Jan 6ers with Obstruction Who Did Not Obstruct.
• Scientists Recommend that Older Adults Who Receive Pfizer’s RSV Vaccine Should be Monitored for Guillain-Barre Syndrome.
• ‘In the Pits of Hell, Innocent Men are Steadfast in Faith in God’ – J6 Political Prisoner William Chrestman Tells Gateway Pundit FBI Is Paying Criminal ‘Confidential Human Sources’ $30k A Month ‘To Set People Up’ – Please Help This Man on Easter Weekend (VIDEO).
• Major Distributor Cancels Upcoming Appearances of Budweiser Clydesdale Horses Over Embrace of Trans Influencer Dylan Mulvaney.
• New Information Raises Serious Questions About DOJ Collusion In Politically-Motivated Case Against Miles Guo.
• JUST IN: Crooked Katie Hobbs Vetoes Signature Verification Law in Arizona Before Kari Lake’s Signature Verification Fraud Claim Receives a Hearing.
• Southern California Ports Close Due to Labor Shortage Amid Union Contract Negotiations, Disrupting Global Supply Chain.
• “I Will Pursue Legal Action” – Female Swimmer Riley Gaines Announces She Will Sue Violent Trans Terrorists Who Beat Her After Speech at San Francisco Campus.

The Epoch Times:

• Mother of Shen Yun Dancer Sentenced to 4 Years in Prison in China for Her Faith.
• 42 Chinese Warplanes, 8 Vessels Sent Toward Taiwan After Leader’s US Meeting.
• Texas Senate Unanimously Passes Measure to End Complicity in Beijing’s Forced Organ Harvesting.

Twitter:

• @polishprincessh -  In Washington, DC, the average homicide suspect has been arrested 11 times before they committed murder. DC Police Chief Robert Contee blamed a lenient criminal justice system for soaring crime rates. “If we really want to see homicides go down … keep bad guys in jail” he said. (video)
• @DefiyantlyFree - 2,000 BLM protestors were not prosecuted even though they were arrested for committing felonies during the protests of 2020 that injured 700 police officers and caused 2 billion dollars in damages. They burned down entire buildings and were rewarded with 90 million dollars in donations. 2,000 people have been or are in the process of being arrested, locked up pending trial and sentenced to hard time in jail for misdemeanors such as trespass and parading. How do we come back as country from that kind of injustice?
• @LaraLogan - Political prisoner, Jake Lang, was arrested on charges related to January 6th when he was 25-years-old. He has now had his 26th, 27th and (today) his 28th birthday behind bars WITHOUT TRIAL. He has spent much of that time in solitary confinement, the most extreme punishment. This should upset every American. It violates the constitution & is a shame on all of us. It could also happen to any of us - and it will if we do not stop it now. To Jake I can only say, I am sorry. Stay strong & know that millions are on your side. Vaya con dios,
• @VigilantFox - Switzerland Stops Recommending COVID-19 Vaccination. People designated high risk are also not recommended to get a COVID-19 vaccine, authorities said.
• @jessefelder - 'US bank lending contracted by the most on record in the last two weeks of March, indicating a tightening of credit conditions in the wake of several high-profile bank collapses that risks damaging the economy.'
• @TomFitton - I've reviewed the ProPublica hit piece on Justice Thomas that the extremist left is using to try to destroy the leading black public official in America. It details no violations of ethics rules or law by Justice Thomas. There's nothing there.  Incitement to insurrection? (video)
  
• @IGSquawk - Weekend markets update: #DAX 15690 +0.02% #DOW 33539 +0.00% #NASDAQ 13070 0.00% #FTSE 7762 -0.06% #HANGSENG 20505 -0.12% #GBPUSD 12419 -0.02% #EURUSD 10909 +0.03% #USDJPY 13218 +0.01%.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 947,487 Reports(+1,667 from prior week) Through March 24th, 2023. 

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.