Bear Radar

Style Underperformer:

• Small-Cap Value -.1%
  

Sector Underperformers:

• 1) Regional Banks -2.1% 2) Alt Energy -1.8% 3) Oil Service -1.4%

Stocks Falling on Unusual Volume: 

• MANU, SEDG, ARCB, VRNA, CHKP, ALGT, ETSY, PINS, DOCS, GTLS, GNK, ASO, ACCD, NET, UPST, ORC, MSTR, PNC, CFG, TRMD, COUR, W, AYX, BZH, COIN, GPN, NWL, RIOT, MCB, PLRX and TOP
  

Stocks With Unusual Put Option Activity:

• 1) TMDX 2) EXPD 3) NNOX 4) FE 5) MUB
  

Stocks With Most Negative News Mentions:

• 1) RIDE 2) VLY 3) HBNC 4) SBNY 5) CHKP
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +.6%
  

Sector Outperformers:

• Gambling +2.1% 2) Road & Rail +1.5% 3) Defense +1.2%

Stocks Rising on Unusual Volume:

• ZYXI, TGTX, DAWN, ISEE, NCLH, ON, SMG and KBR
  

Stocks With Unusual Call Option Activity:

• 1) HYFM 2) NNOX 3) VSTO 4) LIVN 5) EOLS

Stocks With Most Positive News Mentions:

• 1) MDWT 2) NCLH 3) ISEE 4) ELDN 5) VKTX
  

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: 

• (ADT)/.08
• (AGCO)/2.71
• (ABC)/3.30
• (BP)/.24
• (LNG)/6.65
• (CMI)/4.70
• (DD)/.80
• (ETN)/1.78
• (EXPD)/1.33
• (FSS)/.40
• (IT)/2.10
• (IDXX)/2.43
• (ITW)/2.23
• (LDOS)/1.59
• (MPC)/5.60
• (MAR)/1.84
• (MDC)/.54
• (TAAP)/.26
• (PFE)/.99
• (RGEN)/.59
• (SAGE)/-2.45
• (SEE)/.77
• (SYY)/.92
• (TROW)/1.63
• (TRN)/.25
• (UBER)/.15
• (ZBH)/1.64
  

After the Close: 

• (AMD)/.56
• (ANDE)/.18
• (CZR)/.06
• (CHK)/1.66
• (CLX)/1.22
• (EIX)/.98
• (F)/.44
• (LOPE)/1.96
• (HLF)/.70
• (JKHY)/1.10
• (MTW)/.15
• (MTCH)/.56
• (PRU)/2.92
• (SPG)/2.81
• (SBUX)/.65
• (SMCI)/1.71
• (YUMC)/.44
  

Economic Releases

10:00 am EST

• JOLTS Job Openings for March is estimated to fall to 9736K versus 9931K in Feb.
• Factory Orders for March is estimated to rise +1.2% versus a -.7% decline in Feb.
• Durable Goods Orders revisions for March.
  

Afternoon:

• Wards Total Vehicle Sales for April is estimated to rise to 15.1M versus 14.82M in March.

Upcoming Splits

• (SMH) 2-for-1
  

Other Potential Market Movers

• The Eurozone CPI report, RBA Decision, US weekly retail sales reports and the (ALLE) analyst day could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

• NYSE Volume Running -23.2% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 12.0 +.9
  
• 4 Sectors Declining, 7 Sectors Rising
• 55.9% of Issues Advancing, 40.2% Declining
• 60 New 52-Week Highs, 11 New Lows
• 42.8%(+2.2%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 57.0 +4
  
• Bloomberg Global Risk-On/Risk-Off Index 56.9 +2.4%
  
• Russell 1000: Growth/Value 15,942.2 -.14%
• 1-Day Vix 8.9 -32.7%
  
• Vix 15.6 -1.1% 
  
• Total Put/Call .86 -10.4%
• TRIN/Arms 1.07 +11.5%
  

Monday Watch

Today's Headlines

Bloomberg:

• China Reopening Party Over as Emerging Markets Slip Back to Void.
• World’s Top LNG Buyer Sees Risk of Another Price Spike This Year.
• Jerome Powell Could Face More Opposition as Fed Choices Get Tougher.
• FDIC Needs ‘Lowest-Cost’ First Republic Option, Khanna Says.
• Key Takeaways From a Better-Than-Feared Start to Earnings Season.
• Equity Bulls Count on Fed-Cycle Math That Worked For Decades.
• GOP’s Scalise Challenges Senate to Pass Own Debt-Limit Bill.
• Munger Warns Banks Stuck with Commercial Property Debt, FT Says.
• Miami Parties Through Tech Downturn: 'I Choose Rich Every Time'.

Zero Hedge: 

• Epstein's Private Calendar Emerges: Among Prominent Names Listed Are Biden's CIA Chief, Goldman Top Lawyer.   
  
• Vultures Circling: Bearish Bets Against REITs Soar As CRE Meltdown Risks Mount.
• MIT Scientists Create New Nanoparticle Sensors To Detect Early Cancer Via Simple Paper Test.
• Democrat Cities Have Biggest Homicide Rate Problem, Study Finds.
• With FRC Auction Results Imminent, Handicapping The Reported Bidders For First Republic.
• How Long Until The US Is Put On Downgrade Watch?
• When We Lose Small Businesses...
• Sean Hannity's Ratings Plunge After Tucker Carlson’s Fox News Exit.
• "It Was Weird": Video Shows 'Mysterious Lights' Hovering Over Las Vegas.
• CNN Host Shockingly Blasts Teachers Union Boss Over School Closure Lies.
• Over 10,000 FBI Agents Can Access Data From Secretive Surveillance Program: Inspectors General.
• Montana Governor Signs Bill Banning Tansgender Surgeries For Children.
• Watch: Musk Warns Bill Maher 'Woke Mind Virus' Is Existential Threat To Civilization.
• Fitch Downgrades France To AA-, Cites Civil Unrest As Major Risk.
• Taiwan Now Has Real Time Intelligence Sharing Link With Five Eyes.
• 'Equity' And The Race To The Bottom.
• Texas Senate Passes Legislation Banning 'Hostile Foreign Nations' From Buying Farmland.
• CJ Hopkins Advice To RFK Jr: "F**k It, F**k Them... Tell The Truth... The Angry, Uncensored Truth".
• Vegas Baby! (Or South Korea's 'Hawaii'): These Are The Busiest Air Routes In The World And Stateside.
• AOC Is Wrong - Deplatforming Never Works.
• The State Of 'Democracy' Around The World.

Wall Street Journal:

• The Building Boom Is Prolonging Market Pain.
• Stock Market Calm Rekindles Debate Over Fed Tightening.
• McCarthy Shores Up GOP Lines as Debt-Ceiling Battle Looms.
• Epstein’s Private Calendar Reveals Prominent Names, Including CIA Chief, Goldman’s Top Lawyer.
• Victory Elusive for Russians in Grinding Battle in Ukraine’s East.

CNBC:

• Top cloud providers Amazon, Microsoft and Google face ongoing spending cuts by clients.
• What Home Depot’s billion-dollar pay raise may help prove about workers.
• Charlie Munger reportedly warns of trouble for the U.S. commercial property market.
• Florida is the No. 1 U.S. state retirees are moving to—here’s where else they’re going.
• Bed Bath & Beyond store closures will kick off a land grab for fast-growing retailers.
• Alzheimer’s patients may wait years for new treatments, putting them at risk of more severe disease.
• How A.I. could change the future of work.

MarketWatch.com:

• Opinion: Microsoft and Alphabet increase spending on AI, but don’t get carried away yet

NewsMax:

• Texas Border City Overwhelmed as US Braces for Huge Wave of Migrants.
• Gallup: Biden's Worldwide Approval Plunging.
• Fleitz: Why Isn't Biden Worried About China?

Fox News:

• Target is making a major change that will impact your next shopping trip

TheGatewayPundit.com:

• Democrats Are Mounting a Campaign to Delegitimize the U.S. Supreme Court  
• REPORT: Newsmax Offers Tucker Carlson Colossal Deal.
• Blue State Exodus: New IRS Migration Data Shows New York, California, Illinois Hemorrhaging Citizens and Tax Dollars for a Move to Red States.
• Ireland Set to Pass “Hate Speech” Laws – Will Make Possessing “Hateful” Content on Your Devices a Jailable Offense – Elon Musk Weighs In.
• WHERE’S AOC? Democrat Hypocrites Slient as Photos Show Kids in Cages at the Border.
• Biden Calls Himself “Dark Brandon” During White House Correspondents’ Dinner (Video).
• RFK Jr. Says His Father and Uncle Were Fighting Against Military Industrial Complex Before Their Deaths.
• DOCTORS WARN: Occurrences Of Rare Brain Infection In Children Have TRIPLED After Covid-19 Lockdowns.

Twitter:

• @isource_news - iSN: Suzanne Scott the CEO of Fox? Tucker Carlson: Yes. That Suzanne. She said the decision had been made by people above her that I was no longer going to be on the air. I asked why and she couldn't answer beyond saying she was sorry.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 955,352 Reports(+1,937 from prior week) Through April 21st, 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.

Morning Preview Links

BOTTOM LINE:  I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:

• Kim’s Powerful Sister Slams ‘Old’ Biden Over Nuclear Threat.
  
• China’s Now Spurning ‘Ugliest Buildings’ That Symbolized Its Meteoric Rise.
• Hong Kong’s Unsold New Homes Highest Since 2007, Ming Pao Says.
• German Bonds a No-Go Zone as ECB Seen Keeping Hawkish Stance. 
• Mexico Congress Passes Blitz of Reforms Amid Tension.
• Softbank’s Arm Says It Registered Confidentially for US IPO.
• Egypt Plans to Raise Ration Card Commodity Prices, Minister Says.
• Ukraine Latest: Kyiv Official Slams Poland Over Food Import Ban. 
• Signs Are Mounting That a Debt Crunch is Looming.
• Fed Seen Boosting Rates Even as Economic Risks Build.
• Democrats Look to McConnell, the Man They Called ‘Grim Reaper,’ for Debt Help.
• Bond Volatility Has Busted the 60/40 Portfolio’s Safety Valve. 
• FDIC Asks Banks for Final First Republic Bids Due Sunday.
• Apple, Qualcomm, AMD Earnings to Put Tech Rebound In Focus.
• Charting the Global Economy: Inflation in US Remains Stubborn.
• Your Saturday US Briefing: Biden’s Game of Chicken, Trump’s Big Shadow. 
• Your Saturday Asia Briefing: Everything You’re Missing Out On.

Zero Hedge:

• CNN Host Shockingly Blasts Teachers Union Boss Over School Closure Lies.
• Watch: Musk Warns Bill Maher 'Woke Mind Virus' Is Existential Threat To Civilization.
• Ukrainian Kamikaze Drones Blow Up Crimean Fuel Depot, 'Answering' Yesterday's Air Strikes.
• California Teachers Sue School District Over Transgender Policy Allegedly Forcing Them To Lie To Parents.
• The Number Of Jailed Journalists Reaches Record High.
• California Doctor Faces $290 Million In COVID-19-Related Fraud Charges.
• What The End Of Fed Rate-Hikes Means For Stocks.
• "Something Clearly Went Wrong" - Fauci & Friends Desperately Try To 'Close The Book' On COVID.
• 'Modern-Day Slave Traders': Hawley Demands Probe Into 85,000 'Lost' Migrant Children.
• A Conservative Conversation With A Bothered Bot.
• Weapons Makers Suffering Worker Shortages As Ukraine War Drives Demand.
• These 12 States Can Seize Your Home Over Delinquent Property Taxes.
• Alito: I Know Who Likely Leaked The Dobbs Decision.
• Tanker Wars Are Back: Iran Releases Footage Of Commandos Landing On US-Bound Vessel.
• Masks Had No Effect On COVID Cases Among Children: Study.
• Hartnett: "We Stay Bearish".
• 600 Army Aviators Told They Owe Three More Years Than Previously Assured.
• Inflation Still Too High? Let Them Eat EVs.
• "We Are Not Optimistic": Top Sony Exec Doesn't See Smartphone Demand Recovery This Year.
• How Smart Is ChatGPT?
• We Should Really Be Having More Kids.

Wall Street Journal:

• Wage Gains Pick Up as Fed Considers Rate Decision.
• JPMorgan, PNC Are Bidding for First Republic as Part of FDIC Takeover..
• The Boss Wants to Make You More Efficient.
• Social-Media Shopping Scams Are Growing. Young Adults Are the Targets.
• The Latest AI Tech Wouldn’t Be Possible Without You.
• Bear Market’s Survivors Share Biggest Lessons.
• U.S. Struggles to Replenish Munitions Stockpiles.

CNBC:

• First Republic most likely headed for FDIC receivership, sources say; shares drop 40%.
• Why GM is killing the Chevy Bolt — America’s cheapest EV — amid record sales.
• Fed report on SVB collapse faults bank’s managers — and central bank regulators.
• The Biden tax proposals that could hit baby boomer, family businesses. 
• Google Cloud boss Kurian’s rocky path to profit: ‘We were not in a very good situation’.

 MarketWatch.com:

• This stock-market gauge shows investors are brushing off banking, debt-ceiling, and recession worries. Will it last?
• Opinion: Stock investors are right to be cautious now, and being bearish is even smarter
• Opinion: The Fed says don’t worry about U.S. banks, but why should anyone believe them?
• Opinion: Powell and the Fed may be prone to the same mistakes that stoked inflation in the 1970s

NewsMax: 

• Fox News Ratings Collapse by 50% as Newsmax Soars.
• Ric Grenell: Tucker Carlson Backlash 'Enormous'.
• Dick Morris: 'Puppeteer' Deep State Realizing 'Puppet Had Escaped'.

Fox News:

• Bud Light forced to pay up 'heavily' as company reels from Dylan Mulvaney backlash.
• Tourist town rocked by violence after defund police movement rolls out plan to combat crime.

TheGatewayPundit.com:

• DOCTORS WARN: Occurrences Of Rare Brain Infection In Children Have TRIPLED After Covid-19 Lockdowns.
• Moderna’s CEO Raked in Nearly $400 Million Last Year.
• CCP-Tied Battery Plant Pushed By Democrats To Be Built Next To 3rd Largest Watershed In MI…Will Reportedly Consume Twice The Amount of Water Per Day As Major Water Bottling Plant [VIDEO].
• John Deere Corporate Might Have Reason to Panic, But Farmers Will Love What’s Happening.
• FOX News Flatlines – 8 PM Audience Plunges from 3 Million to 1.33 Million IN ONE WEEK!
• Colorado Democrat Governor Signs Four Gun Control Bills – Strengthen Red Flag Laws, Imposes 3-Day Waiting Period, & Raises Age Requirement.
• Joe Rogan Speaks Out On Tucker’s Next Move, Potential Deal With Rumble – “Do You Have Any F**king Idea How Big That Would Be?”.
• More Liberal Tolerance- Black Republican Kentucky AG Daniel Cameron Attacked in Disgusting Cartoon.
• Elon Musk and Bill Maher Discuss the ‘Woke Mind Virus’ and the Radicalization of the Left (VIDEO).
• Prominent Veterans Blast Biden for Pattern of Leaving Americans Behind in Foreign Countries.
• National, Arizona, and Maricopa County Election Officials Gathering For Secret Zuckerberg Funded, Soros Tied US Election Summit At ‘International Spy Museum’.

The Epoch Times:  

• China Expands Anti-Espionage Law Targeting Foreign Companies and Dissidents.
• Chinese Ambassador to France Makes Comments on CCP’s Aims to Reshuffle World Order.

Twitter:

• @IGSquawk - Weekend markets update: Weekend markets update: #DAX 15939 -0.10% #DOW 34083 -0.05% #NASDAQ 13237 -0.10% #FTSE 7876 +0.05% #HANGSENG 20019 +0.33% #GBPUSD 12567 0.00% #EURUSD 11016 -0.02% #USDJPY 13639 +0.05%

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 955,352 Reports(+1,937 from prior week) Through April 21st, 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.