Monday, August 14, 2023

Bear Radar

Style Underperformer:

  • Small-Cap Value -.7%
Sector Underperformers:
  • 1) Electric Vehicles -2.2% 2) Regional Banks -1.8% 3) Oil Service -1.1%
Stocks Falling on Unusual Volume: 
  • ENB, EAT, LPG, TMDX, ALRM, FWRD, SSL, GGAL, BMA, AGTI, FTRE, EBIX and HE
Stocks With Unusual Put Option Activity:
  • 1) X 2) MULN 3) BHP 4) EBIX 5) AMC
Stocks With Most Negative News Mentions:
  • 1) HE 2) AMC 3) BTAI 4) LICY 5) CLF
Charts:

Bull Radar

Style Outperformer:

  • Large-Cap Growth +.8%
Sector Outperformers:
  • Semis +2.2% 2) Disk Drives +1.9% 3) Video Gaming +1.0%
Stocks Rising on Unusual Volume:
  • X, CLF, TGTX, SMCI, STLD, PENN, APLS, NOVA, INOD and AESI
Stocks With Unusual Call Option Activity:
  • 1) VOD 2) X 3) GNS 4) DASH 5) GLD
Stocks With Most Positive News Mentions:
  • 1) X 2) LWAY 3) AUVI 4) MNDY 5) INTR

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

Earnings of Note 
Company/Estimate 

Before the Open:
  • (CAH)/1.49
  • (HD)/4.45
  • (ONON)/.11
  • (SE)/.65
After the Close: 
  • (A)/1.36
  • (CAVA)/-.02
  • (COHR)/.38
  • (HRB)/1.88
  • (JKHY)/1.19
  • (MRCY)/.52
Economic Releases   
8:30 am EST
  • Retail Sales Advance MoM for July is estimated to rise +.4% versus a +.2% gain in June.
  • Retail Sales Ex Autos MoM for July is estimated to rise +.4% versus a +.2% gain in June.
  • Retail Sales Ex Autos and Gas for July is estimated to rise +.4% versus a +.3% gain in June.
  • The Import Price Index MoM for July is estimated to rise +.2% versus a -.2% gain in June.
  • The Export Price Index MoM for July is estimated to rise +.2% versus a -.9% decline in June.
  • Empire Manufacturing  for Aug. is estimated to fall to -1.0 versus 1.1 in July
10:00 am EST
  • Business Inventories for June is estimated to rise +.1% versus a +.2% gain in May.
  • The NAHB Housing Market Index for Aug. is estimated at 56.0 versus 56.0 in July.

4:00 pm EST

  • Net Long-Term TIC Flows for June.

Upcoming Splits 

  • (AAON) 3-for-2
Other Potential Market Movers
  • The Fed's Kashkari speaking, China Industrial Production report, weekly US retail sales reports and the Deutsche Bank Transport 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 +9.0% Above 100-Day Average 
  • Nasdaq/NYSE Volume Ratio 8.7 -3.3
  • 7 Sectors Declining, 4 Sectors Rising
  • 50.4% of Issues Advancing, 45.1% Declining
  • 40 New 52-Week Highs, 34 New Lows
  • 51.3%(-2.4%) of Issues Above 200-day Moving Average
  • Average 14-Day RSI 49.0 -4.0
  • Bloomberg Global Risk-On/Risk-Off Index 71.2 -.6%
  • Russell 1000: Growth/Value 17,144.2 +.9%
  • 1-Day Vix 10.0 -22.6%
  • Vix 15.1 +1.8%
  • Total Put/Call .99 -2.0%
  • TRIN/Arms .97 +14.1%

Sunday, August 13, 2023

Monday Watch

Today's Headlines

Bloomberg:
Zero Hedge:
Wall Street Journal:
Barron's:
  • Had bullish commentary on (PLMR), (NEE), (CMCSA) and (CRD/B).
TheGatewayPundit.com:
Twitter:
OpenVAERS:
SKirsch.com:
Night Trading
  • Asian indices are -1.25% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 99.75 +1.75 basis points.
  • China Sovereign CDS 64.5 +3.0 basis points.
  • China Iron Ore Spot 101.2 USD/Metric Tonne -1.5%.
  • Bloomberg Emerging Markets Currency Index 42.5 -.07%.
  • Bloomberg Global Risk-On/Risk Off Index 72.0 +.6%.
  • Bloomberg US Financial Conditions Index .36 -3.0 basis points. 
  • Volatility Index(VIX) futures 17.1 unch. 
  • Euro Stoxx 50 futures +.12%.
  • S&P 500 futures +.07%.
  • NASDAQ 100 futures +.12%.

BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the week.

Friday, August 11, 2023

Evening Headlines

Bloomberg:

Zero Hedge:
Wall Street Journal:
CNBC:
MarketWatch.com:

Fox News:

TheGatewayPundit.com:  

Twitter:
OpenVAERS:
SKirsch.com: