Bear Radar

Style Underperformer:

• Small-Cap Value -.8%
  

Sector Underperformers:

• 1) Regional Banks -2.0% 2) Telecom -1.5% 3) Road & Rail -.9%

Stocks Falling on Unusual Volume: 

• SAVE, IEP, CVBF, AES, SEM, TEAM, SITM, ACMR, FYBR, MRVL, PLRX, FRO, PENN, TGTX, FOXF, CYRX, USM, SWAV, TSE, TMDX, FRPT, MKSI, HELE, GDOT, MSTR, RIOT, EH, TRUP, TSN and CTLT
  

Stocks With Unusual Put Option Activity:

• 1) TSN 2) PTEN 3) APO 4) COTY 5) TRUP
  

Stocks With Most Negative News Mentions:

• 1) CTLT 2) TUP 3) TSN 4) LPSN 5) MARA
  

Charts:

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

Bull Radar

Style Outperformer:

• Mid-Cap Growth -.1%
  

Sector Outperformers:

• Cyber Security +1.3% 2) Video Gaming +1.1% 3) Internet +1.1%

Stocks Rising on Unusual Volume:

• ZS, SIX, NSSC, CVNA, NEP, ENR, SPB, COGT, GRBK and DK
  

Stocks With Unusual Call Option Activity:

• 1) GRAB 2) TSN 3) FUBO 4) IBRX 5) NRG

Stocks With Most Positive News Mentions:

• 1) ZS 2) LXU 3) SIX 4) ANIP 5) HNI
  

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:

• (APD)/2.66
• (AMCX)/1.83
• (WHD)/.56
• (DUK)/1.26
• (ELAN)/.29
• (FOXA)/.88
• (HAIN)/.16
• (IGT)/.48
• (J)/1.78
• (LITE)/.78
• (NKLA)/-.30
• (PRGO)/.43
• (TPX)/.51
• (UAA)/.15
• (WRBY)/.04
• (WMG)/.22
• (WE)/-.31
• (WAT)/2.62
  

After the Close: 

• (AFRM)/-.84
• (ABNB)/.14
• (AKAM)/1.32
• (BIRD)/-.25
• (BLNK)/-.43
• (BOOT)/1.45
• (DUOL)/.24
• (EA)/1.31
• (HRB)/4.46
• (TWNK)/.27
• (IAC)/-.82
• (IRBT)/-1.32
• (OXY)/1.25
• (RNG)/.69
• (RIVN)/-1.58
• (TWLO)/.21
• (WYNN)/.00
  

Economic Releases

6:00 am EST

• NFIB Small Business Optimism for April is estimated to fall to 89.7 versus 90.1 in March.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Williams speaking, Australia budget report, US Debt Ceiling meeting, 3Y T-Note auction, weekly US retail sales reports, BofA Healthcare Conference and the Goldman Industrials/Materials Conference 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 -6.8% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 8.2 +.9
  
• 8 Sectors Declining, 3 Sectors Rising
• 50.4% of Issues Advancing, 46.5% Declining
• 38 New 52-Week Highs, 24 New Lows
• 40.1%(+1.1%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 51.0 +3
  
• Bloomberg Global Risk-On/Risk-Off Index 54.8 +.7%
  
• Russell 1000: Growth/Value 16,227.0 -.24%
• 1-Day Vix 9.8 -30.7%
  
• Vix 17.5 +1.7% 
  
• Total Put/Call .96 +3.2%
• TRIN/Arms .62 +6.9%
  

Monday Watch

Today's Headlines

Bloomberg:

• China’s Main Trade Fair Struggles to Lure Buyers as Global Growth Slows.
• Bank Troubles to Test Japan Stocks as Traders Return From Break.
• Asian Shares to Rise After US Financials Rebound: Markets Wrap.
• Bank Stocks Nearing a Crisis-Era Threshold Raises Warning Sign.
• Bond Traders Bet on Biggest Fed Shift in Decades on Credit Risks.
• Preferreds Get Burned in Historic Rout Spreading From Banks.
• Five Key Charts to Watch in Global Commodity Markets This Week.

Zero Hedge: 

• Downtown San Francisco Becomes A Ghost Town As Major Retailers Flee.
• Elon Musk: Why Does The Media Misrepresent Interracial Crime Stats "To Such An Extreme Degree"?
• Mayhem Unfolds In Oakland As Soros-Backed DA Fails To Enforce Law And Order.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• Size selling in time for the buyback bonanza.
• Basel IV Rules Are Coming And Will Make Bank Lives Even More Difficult.
• Like A Tweet, Lose Your Job.
• Buffett Turns Gloomy: The "Incredible Period" For The US Economy Is Coming To An End.
• Morgan Stanley: New Banking Rules Will Make Credit Standards Even Tighter.
• Georgia Passes Law To Crack Down On 'Far-Left' Prosecutors Who Are Soft On Crime.
• US Heading Toward Power Grid 'Reliability Crisis,' Energy Commissioner Warns.
• Tucker And Elon? Carlson Plots Next Moves - But Only If Fox Lets Him Out Of 2025 Contract.
• Escobar: Global De-Dollarization Nearing "Crossroads Moment".
• What's Behind The Record Collapse In Market Breadth, And What Happens Next.
• Front-Running The Fed Pivot Might Not Work Next Time.
• Parents More Likely To Question Routine Childhood Vaccinations Post-COVID: Research Report.
• The Bumpy Road Ahead For The World Economy.
• Majority Of Germans Say Migrants Bring More Problems Than Benefits, Want Limit On Refugees.
• Digital Fentanyl: The CCP’s Cyber Campaign To Destroy America.
• Alaskan Trucking Fleets Promise $150K Driver Salaries Amid Drilling Boom.
• High Levels Of Toxic Metals Found In Widely Consumed Drinks: Study. 
• America Needs Permitting Reform To Reduce U.S. Reliance On Foreign Energy.
• Hunter Laptop Letter Pitched To Ex-Spooks As 'Debate Talking Point' To Help Biden.
• Tennis Legend Martina Navratilova: "Women's Sports Is Not The Place For Trans Athletes".
• California's Cannabis Market Crashes, Northern Counties Brace For Impact.
• Fauci's Never-Ending Victory Tour.
• "It's Spooky": Stanford Professor Warns Thousands Of US Banks Are "Potentially Insolvent".
• Hungary's PM Orbán: Progresssive Liberals Have Launched A "Nation-Destroying Virus" Against Western Nations.
• Class-Action Suit Launched Against Australian Government Over COVID Vaccine Injuries.
• The Ruination Of Great American Cities.
• Mystery Trader Bets $5 Million On VIX Exploding To 70 By September.

Wall Street Journal:

• Banks Are in the Grips of Investor Crisis of Confidence.
• U.S. Think Tank Reports Spurred China to Restrict Data.
• Forget ChatGPT. These Are the Best AI-Powered Apps.
• Workers in Tech Aren’t as Rich as They Used to Be.
• The Lockdowns Are Over, but the Damage Goes On. Workforce dropouts and drug overdoses became more common as the world obsessed over the virus. 
• Miguel Cardona, Miseducation Secretary. National history test scores plummet, and he attacks Republicans. 
• Investors Flock to Safety Plays, but Stock ‘FOMO’ Lingers.
• Syria Readmitted to Arab League, Ending Over a Decade of Isolation for Assad.

Barron's:

• Had bullish commentary on (CARR), (QRVO) and (TT).
• Had bearish commentary on (DIS) and (BLK).

CNBC:

• Here’s the No. 1 skill for raising highly resilient kids, says parenting expert and neuropsychologist.
• Warren Buffett, Charlie Munger are skeptical of A.I. hype — follow Berkshire’s annual meeting here.
• Restaurants embrace premium reservations to target big spenders. 
• In a new hacking crime wave, much more personal data is being held hostage.
• The best wit and wisdom from Warren Buffett and Charlie Munger at Berkshire Hathaway’s annual meeting.
• Here’s a full recap of everything Warren Buffett and Charlie Munger said at Berkshire’s annual meeting.

MarketWatch.com:

• Commercial real-estate’s debt machine is broken down.
• U.S. markets fear recession and see interest rate cuts ahead as Fed loan survey looms.

NewsMax:

• Texas Mall Shooter Identified as Mauricio Garcia, 33.
• Nunes: Democrats Are Trying to Ignore RFK Jr. 
• Don Jr.: ‘Corrupted’ Bureaucrats ‘Pillaging’ America.
• Lara Trump: Efforts to Disparage Tucker Backfiring.
• DeSantis: It's 'Terrible' Tucker Was Fired by Fox. 

Fox News:

• Chicago PD's advice to burglarized store owners rubs businesses the wrong way.
• Favorite to win Kentucky Derby scratched from race at the last minute.
• Reparations panel approves huge payments for qualifying Black residents in California.
• 7 killed, others injured after vehicle slams into pedestrians in front of migrant shelter.
  

TheGatewayPundit.com: 

• Greg Gutfeld: RFK Jr. Would Destroy Joe Biden in a Debate (VIDEO). 
• 16-Year-Old Alexandria High School Student Dies Suddenly at Home.
• “This Poll is Brutal For Biden” – George Stephanopoulos as Joe Biden Hits Record Low Approval Rating in New ABC/WaPo Poll (VIDEO).
• “Ready for War” – Tucker Carlson Reportedly Wants a Massive Media Empire and is “Ready to Go “Defcon 1” to Force Fox News to Give Him his Freedom.
• Republican Oversight Committee Wants Answers From John Kerry About His Secret Talks With China.
• Update: IRS Whistleblower Will Share His Allegations Against AG Merrick Garland Lying to Congress.
• Homeless Encampment in Marin County, California Grows to TWO MILES Long (VIDEO).
• After a 70-Year Wait, Globalist Charles III Is Finally Crowned King of England – Deeply Religious Ceremony Captures the Imagination of Millions Around the World, but UK Sees Growing Apathy in Regards to Monarchy.
• Denver City Council Member Wants White Owned Businesses Taxed Extra and Redistributed to Black Owned Businesses (VIDEO).
• VIDEO: Watch All the Media Lapdogs Who Claimed That Gas Stove Bans Were a Right Wing Conspiracy.
• Biden Regime Approves Nation’s First ‘Congestion Pricing’ Tolling Plan For New York – Drivers Entering Manhattan at Peak Hours will be Charged.
• Attorney Mike Davis: “If We Don’t Win the White House and Senate in 2024 It’s Game Over – And Our Rights to Speak, Associate, Worship and Protect Ourselves” (VIDEO).
• RFK Jr. Says “CIA Involved In Assassinations and Fixing Elections” (VIDEO).

The Epoch Times:

• ANALYSIS: China’s Eastern Industrial Hub Suzhou May Face Housing Price Collapse Amid Over-Saturated Property Inventory.
• IN-DEPTH: China Wants Killer Robots to Fight the Next War.

Twitter:

•  @IAPolls2022 - ABC/WP POLL: Biden approval rating hits all-time low of 36 percent Overall: • Approve — 36% • Disapprove — 56% Independents • Approve — 30% • Disapprove — 60%.
• @DrEliDavid - “Secondary bacterial pneumonia was a key driver of death in patients with Covid. It may even exceed death rates from the viral infection itself.” Remember how the "experts" mocked early treatment protocols advocating use of antibiotics (e.g., Zelenko protocol)? We knew that already from the Spanish flu, where most died from secondary bacterial infection. See who was the author of the paper on Spanish flu. 
• @stillgray  - This is the plan. Scientific American says a population decline will make the world a better place.
• @VigilantFox - @RobertKennedyJr Suspects the Biden Admin of Making Efforts to Prolong the Ukraine War "All the decisions the United States has made since the start have been about prolonging the war, about maximizing the violence of the war, and being absolutely intransigence against the many opportunities to actually settle the war," expressed. (video)
  

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 957,953 Reports(+2,601 from prior week) Through April 28th, 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 +.5% to +1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 135.25 -1.25 basis points
  
• China Sovereign CDS 75.25 -2.75 basis points.
• China Iron Ore Spot 99.4 USD/Metric Tonne +.59%
  
• Bloomberg Emerging Markets Currency Index 47.9 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 54.4 +.06%.
• Bloomberg US Financial Conditions Index .01 +1.0 basis point. 
  
• Volatility Index(VIX) futures 21.4 +.06%. 
• Euro Stoxx 50 futures n/a.
• S&P 500 futures +.02%.
• NASDAQ 100 futures unch.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and financial 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 week.

Evening Headlines

Bloomberg:

• US Prepares to Fast Track $500 Million of Arms for Taiwan.
• Egypt Gets First Fitch Downgrade Since 2013 as Economy Stumbles.
• Hot Jobs Report Raises Odds Fed Keeps Rates Higher for Longer.
• FDIC Mulls Loss-Sharing With Nonbanks to Boost Bids on Failures.
• SEC Investigates Trades by First Republic Executives Before Sale to JPMorgan.
• Fed’s Goolsbee Says Premature to Make Call on June Rate Decision.
• Investors Are Loving Companies That Are Finding Excuses to Raise Their Prices.
• ‘No One Wants to Be Short’ Into Weekend Is Mantra Driving Bank Rally.
• US Bank Lending Rises for Fourth Week, Led by Small Institutions.
• Wild Week in Banks Sends Indexes of Cross-Asset Tumult Spinning. 
• TPG Is In Talks to Buy Credit, Real Estate Firm Angelo Gordon.
• Discount Retailer Christmas Tree Shops Files for Bankruptcy.
• Buffett’s Ties to Bill Gates Put Berkshire Investors at Risk, Activists Say.
• Diet Brand Jenny Craig to Liquidate Following Failed Sale Effort.

Zero Hedge:

• $50 Trillion For What? Kennedy Dumbfounds Biden Climate Peddler In Fiery Exchange Over 'Carbon Neutrality'.
• Randi Weingarten Goes Mega-Karen After Twitter Community Notes Expose Lockdown Lies.
• Pennsylvania Amish Kept True To Their Traditions - Then The Government Came.
• AOC And Matt Gaetz Team Up To Ban Lawmakers From Trading Stocks.
• US Bank-Run Escalates: Deposit Outflows Top $360 Billion In Last 3 Weeks.
• The Suburbs Are Pulling Us Apart.
• Freedom Convoy's B.J.Dichter: We Live In A Belief-Based Society.
• Stocks and yields soared into the weekend amid hot jobs data and regional banks/AAPL surging - Newsquawk US Market Wrap.
• Take Care Of America First! We're Sending Mountains Of Money Overseas But Our Own Communities Are Dying.
• Despite Big Bounce, Banks & Crude End Week Down Hard; Gold At Record Highs.
• Sell low, buy high market is alive.
• David Stockman On Tucker Carlson's Firing And Corporate-Suicide Run Amok.
• Consumer Credit Shocker: Credit Card Debt Explodes At 2nd Fastest Pace On Record Just As Rates Hit All-Time High.
• Mystery Trader Bets $5 Million On VIX Exploding To 70 By September.
• University Slammed For Erasing The Word 'Woman' From Its Maternity And Menopause Policies.

Wall Street Journal:

• Paramount Can’t Say No to Man Behind ‘Yellowstone’.
• TikTok Tracked Users Who Watched Gay Content, Prompting Employee Complaints.
• WHO Declares End to Covid Pandemic Emergency.
• Jeffrey Epstein Excuses. Wealthy and well-connected people surely could have gone elsewhere for financial advice and philanthropic support.
• For Today’s Anxious Teens, Outdoor Adventures Can Be a Cure.
• Iran’s New Friends: Russia and China.
• Bill Gates, Leon Black, Thomas Pritzker: ​One​ Day in the Life of Jeffrey Epstein.

CNBC:

• Here’s where the jobs are for April 2023 — in one chart.
• Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows.
• Here’s what the SEC will require under its new stock buyback disclosure rules.
• Used vehicle prices fell last month for the first time in 2023.
• PacWest stock jumps 80% as regional banks rebound on Friday, but still down sharply for the week.

MarketWatch.com:

• SVB and First Republic failures are just the start of a lengthy banking crisis — if you believe 800 years of history.
• The S&P 500 will not break above its range soon, says Goldman Sachs. Here are 6 reasons why.
• Kentucky Derby odds and betting favorites, prize money and how to watch the race.

NewsMax: 

• Lara Trump: Bids to Disparage Tucker Backfiring.

Fox News:

• Major alcohol brand following Bud Light's footsteps with trans activist partnership.

TheGatewayPundit.com:

• Burger King to Close 400 Stores Nationwide.
• Tayler Hansen: The “All Ages” Drag Show Epidemic Plaguing America.
• Bombshell: Email Shows Ex-Acting CIA Director Mike Morell Pleading with John Brennan to Sign “Spies Who Lie” Letter to Give Biden a “Talking Point to Push Back on Trump” During Debates.
• Formula One’s Lewis Hamilton Will Wear Rainbow Helmet to Miami Grand Prix in Protest of Parental Rights in Education Law,
• Joe Biden: “We’re Not Gonna In – We’re Not Gonna Increase the Debt Every President Has Done for the Past 6 Million Years” (VIDEO).
• Breaking: WHO Finally Ends COVID-19 Pandemic, No Longer a Global Health Emergency (VIDEO).
• WAYNE ROOT: Title 42 Ends in Days. Get Ready to Witness “The Fall of Saigon.”.
• FOX News Bloodbath: All-Important 25-54 Demo Numbers Falls Off a Cliff.
• Michael Shellenberger Warns That Governments Around the World Are Conspiring to End Free Speech as We Know it (VIDEO).
• Lego Goes Woke as It Launches New Gender Neutral Toys in a Bid to ‘Break Stereotypes’.
• Texts Between Bret Baier and Tucker Carlson Show Concern Over Fox News Decision Desk Calling Arizona For Biden Too Early on Election Night.
• “Bud Light Ghost Town!” -Boston Red Sox Fans Completely Snub Disgraced Beer Brand as They Purchase Concessions at Fenway Park (VIDEO).

The Epoch Times:  

• Biden Seeks Dialogue With China Despite Growing CCP Aggression.
• AI Chatbot Could Become Real Threat If Controlled by Oppressive Power: Cybersecurity Expert.

Twitter:

• @charliebilello - The spread between the 3-month and 1-month Treasury bill yields has moved from a record high (1.78%) to nearly a record low (-0.50%) in just two weeks. Bond market is going haywire. (graph)
• @TheWuhanClan - CRE and office loan exposure by bank. (chart)
• @VigilantFox - Autoimmunity cases reported to VAERS increased 24-fold from 2020 to 2021, and annual autoimmunity-related fatalities increased 37x in the same time period. (graph)
• @zerohedge - Here's a question: During a bank run when billions of deposits are getting yanked each day, do you seasonally adjust the bank run? Because that's what the Fed did and here is the deposit data: Seasonally adjusted: $12.5BN outflow. Actual: -$120BN, or 10x greater, outflow. (graph)
• @BernieSpofforth - WEF - Klaus Schwab in full God Mode stating it was him who gave the Club of Rome their first public platform. It’s architectural plan for Climate Change action was first muted in 1968. But that’s just a mad conspiracy theory right? Er apparently not. (video)

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.