Tuesday, May 30, 2023

Bear Radar

Style Underperformer:

  • Small-Cap Growth -.5%
Sector Underperformers:
  • 1) Steel -3.2% 2) Oil Service -2.9% 3) Social Media -1.9%
Stocks Falling on Unusual Volume: 
  • OPRA, SBOW, TGT, GLNG, HTHT, ASAI, MX, BTU, BUD, CSAN, SDGR, FUTU, KSS, ARLP, NTES, EFC, PDD, ZTO, BEKE, AR, ASC, ZGN, WB, SKY and ZNTL
Stocks With Unusual Put Option Activity:
  • 1) MQ 2) KDP 3) HON 4) KSS 5) AI
Stocks With Most Negative News Mentions:
  • 1) TGT 2) TSE 3) VTNR 4) TAL 5) SKY
Charts:

Bull Radar

Style Outperformer:

  • Large-Cap Growth +.4%
Sector Outperformers:
  • Disk Drives +1.9% 2) Computer Hardware +1.6% 3) AI/Robotics +1.1%
Stocks Rising on Unusual Volume:
  • AI, SDA, CVNA, VTS, RIOT, DLO, UPST, W, IONQ, IEP, CFLT, PLTR, SNOW, CRNC, SMCI, PSTG, AMBA, PATH, F, DECK, ANET, PARA, LI, QCOM, ANC, HSKA, SNPS, NVDA, ESTC and NFLX
Stocks With Unusual Call Option Activity:
  • 1) HPE 2) PCG 3) AZN 4) ITUB 5) AMBA
Stocks With Most Positive News Mentions:
  • 1) AI 2) ETRN 3) TARO 4) CHPT 5) SOFI

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

Earnings of Note 
Company/Estimate 

Before the Open:
  • (AAP)/2.56
  • (DCI)/.74
  • (FRO)/.95
After the Close: 
  • (AI)/-.17
  • (CHWY)/-.04
  • (CRWD)/.51
  • (NTAP)/1.35
  • (JWN)/-.10
  • (OKTA)/.12
  • (PVH)/1.94
  • (CRM)/1.61
  • (VSCO)/.54

Economic Releases 

9:45 am EST

  • The MNI Chicago PMI report for May is estimated to fall to 47.1 versus 48.6 in April.
10:00 am EST
  • JOLTS Job Openings for April is estimated to fall to 9400K versus 9590K in March.
10:30 am EST
  • The Dallas Fed Services Activity report for May.
2:00 pm EST
  • The Fed's Beige Book release.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Bowman speaking, Fed's Harker speaking, Fed's Jefferson speaking, China Manufacturing PMI report, weekly MBA Mortgage Applications report, Bernstein Strategic Decisions Conference, Jefferies Software Conference, Craig-Hallum Institutional Investor Conference, TD Cowen Tech/Media/Telecom Conference and the (URI) investor 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 +16.7% Above 100-Day Average 
  • Nasdaq/NYSE Volume Ratio 9.1 -.4
  • 6 Sectors Declining, 5 Sectors Rising
  • 47.3% of Issues Advancing, 49.5% Declining
  • 48 New 52-Week Highs, 51 New Lows
  • 40.5%(+.4%) of Issues Above 200-day Moving Average
  • Average 14-Day RSI 39.0 -4.0
  • Bloomberg Global Risk-On/Risk-Off Index 57.3 -3.9%
  • Russell 1000: Growth/Value 17,452.8 +.86%
  • 1-Day Vix 11.1 -45.6%
  • Vix 17.4 -.6% 
  • Total Put/Call .77 -50.0%
  • TRIN/Arms 1.19 +20.2%

Monday, May 29, 2023

Tuesday Watch

Today's Headlines

Bloomberg:
Zero Hedge:  
Wall Street Journal:
CNBC:
TheGatewayPundit.com:
Twitter:
OpenVAERS:
SKirsch.com:
Night Trading
  • Asian indices are -.25% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 121.25 -5.5 basis points
  • China Sovereign CDS 66.5 -1.25 basis points.
  • China Iron Ore Spot 102.7 USD/Metric Tonne -.15%
  • Bloomberg Emerging Markets Currency Index 46.8 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index 59.7 +.04%.
  • Bloomberg US Financial Conditions Index -.12 -7.0 basis points. 
  • Volatility Index(VIX) futures 19.2 -2.0%. 
  • Euro Stoxx 50 futures +.16%.
  • S&P 500 futures +.27%.
  • NASDAQ 100 futures +.39%.

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

Sunday, May 28, 2023

Today's Headlines

Bloomberg:
Zero Hedge:
TheGatewayPundit.com: The Epoch Times:
Twitter:
OpenVAERS:
SKirsch.com: