Bull Radar

Style Outperformer:

• Mid-Cap Growth +1.6%
  

Sector Outperformers:

• 1) Defense +3.3% 2) Utilities +2.3% 3) I-Banks +1.5%

Stocks Rising on Unusual Volume:

• INOD, AAOI, UPST, DOCS, FTRE, TEM, BNED, AXON, TASK, BE, XPOF, AMSC, WOLF, ZD, BILL, GCT, ADMA, DJT, IONQ, APP, FIVN, LITE, IMXI, FLYW, QDEL, DAVE, TOST, PGY, CVI, AVPT, PODD, ALRM, TVTX, FTNT, G, PAR, DVAX, SONY, EE, KTOS, SMR, AGIO, TSLA, SRAD, SN, SYNA, OFIX, ODD, GME, SOFI, PACS, JELD, COIN, DY, TSEM, LLY, CLMT, ERJ, RYTM, CPAY, VEEV, TAP, DCTH, DAWN, MELI, EXPE, BAH, MAGN, ROOT, GEO, RBA, MGPI, RBA, LIND, TU, NTGR, COST, ZETA, IRON, LEU and RIVN
  

Stocks With Unusual Call Option Activity:

• 1) PBI 2) MNMD 3) AAOI 4) PACB 5) FIVN

Stocks With Most Positive News Mentions:

• 1) AXON 2) DOCS 3) UPST 4) SEZL 5) AAOI
  

Sector ETFs With Most Positive Money Flow:

• 1) SOXX 2) KBWB 3) XLU 4) VFH 5) IYW
  

Charts:

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

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

Earnings of Note 
Company/Estimate 

Before the Open:

• (ARMK)/.52

After the Close: 

• (TALO)/-.07
• (ZETA)/-.06

Economic Releases

• None of note

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The bond market closing for Veterans Day, Baird Industrial Conference, JPMorgan Luxury/Brands Conference and the BofA Energy Conference could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Afternoon Market Internals

NYSE Composite Index:

• Volume Running +32.9% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 12.5 -3.8
  
• 3 Sectors Declining, 8 Sectors Rising
• 61.5% of Issues Advancing, 37.5% Declining 
• TRIN/Arms 1.87 +28.9%
  
• Non-Block Money Flow +$194.1M
  
• 281 New 52-Week Highs, 48 New Lows
• 63.1% (-.9%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 65.0 unch.
  

Other:

• Bloomberg Global Risk-On/Risk-Off Index 68.2 -2.0%
• Bloomberg Cyclicals/Defensives Index 246.1 -.63%
  
• Russell 1000: Growth/Value 20,409.1 -.17%
• CNN Fear & Greed Index 61.0 (GREED) +1.0
  
• 1-Day Vix 8.82 -23.1%
  
• Vix 15.1 -.7%
  
• Total Put/Call .81 unch.

Friday Watch

Around X:

• @elonmusk

• Wow, electricity prices are crazy high in the UK and Europe! (table)
• Worth showing this again. You can see the mind virus spread rapidly, just like a physical virus. (graph)

• @zerohedge

• Sorry to beat a dead horse, but can we go back to what happened here? (graph)

• @LauraLoomer

• CALL TO ACTION FOR MAGA. I’d like to ask people to please focus on the Senate GOP leadership race and understand that you don’t get to nominate whoever you want despite all of the nonsense chatter online. There’s such a lack of focus and there are only 6 days left before the Senate GOP leadership race, and I just would like to see people focus more on supporting the only Trump loyalist on the list so we don’t get screwed over and ruin our massive victory the other night when the election is held on November 13th. Thune and Cornyn are Trump haters who undermined President Trump’s agenda his entire first term. John Cornyn even said Trump couldn’t win the Presidency in 2024 and Thune endorsed Tim Scott over Trump in the 2024 Presidential Primary. The only TRUMP LOYALIST running for Senate GOP leader is Senator Rick Scott. 
• Federal agents raid Alfie Oakes' North Naples home. Alfie is a prominent Trump supporter and GOP donor in Florida.

• @LeadingReport
  

• BREAKING: Trump aide Kash Patel calls for massive declassification from Trump’s administration, including the Epstein list and the Diddy list.

• @ItsJuliansRum

• The fraud that’s currently taking place in AZ may be the key that opens the floodgates to 2020.

• @BehizyTweets

• Maricopa County Recorder Stephen Richer just deactivated his 𝕏 account as reports arise that they are trying to pull off another fraud against Kari Lake. Count the votes and give us the results. It doesn't take two days to verify signatures. The trends suggest Lake will win, and it feels to me like they're giving themselves enough time to steal the election from her.

• @kylenabecker

• That’s fine, Arizona and Nevada election officials. Trump will soon be appointing an attorney general. Play stupid games, win stupid prizes.

• @TaraBull808
  

• VP candidate Tim Walz lost in Blue Earth County, Minnesota, where he lived for 20 years. Whose idea was it to pick this guy?

• @JoeyMannarinoUS

• Just so everyone understands, the Democrats actually did cheat in this election. The difference is, Trump’s team caught them early and shut down the majority of it before it could stop the results. Election Integrity still needs to be the TOP PRIORITY of the incoming Trump Administration. Our problems are nowhere near over in that department without sweeping changes. The way we vote in this country is absolutely absurd!

• @TomFitton
  

• What is happening in Maricopa County right now is election corruption.

• @DC_Draino

• Colorado was the only state to have leftward shifts in voting. Colorado was also the only state to have all their voting machine passwords leaked by CO Sos Jena Griswold months before the election. Do the math.
• Sen John Thune just implicitly *threatened* President Trump on national TV. He told him to not endorse Rick Scott for Senate Majority Leader. Yes the same John Thune that told Trump to resign and let Mike Pence take over. We don’t want Thune.
• Colorado was the only state to have leftward shifts in voting. Colorado was also the only state to have all their voting machine passwords leaked by CO Sos Jena Griswold months before the election. Do the math.

• @JackPosobiec

• FLASHBACK: Mike Pompeo went on Fox to support the Jack Smith investigation last year. He even accused Trump of putting America’s soldiers at risk. No, Mike, Donald Trump is going to PROTECT American soldiers from warmongers like you. (video)

• @DerrickEvans4WV
  

• Both John Thune and John Cornyn utterly FAILED Donald Trump when Republicans held the majority in 2017 and 2018. Not only that, Cornyn and Thune are complicit in perpetuating the Russia Hoax. Neither is fit to serve as Senate Majority Leader in 2025.

• @RealSKeshel
  

• Milwaukee County stole the Senate race in the middle of the night and significantly cut Trump’s statewide margin.

• @pepesgrandma
  

• Breaking! Arizona election attorney says there’s a chance ballots are being swapped. Asked to speak to @pnjaban.

• @WallStreetApes

• This is so HUGE! Share this with everyone, you can now influence change in America. RFK Jr just started ‘Policies for the People’. “It is a direct line to Team Trump where Americans can go and propose certain policies that they think would be beneficial to the American people and then Americans get to vote on it: Let me show you how it works:
• In California Adam Schiff, Nancy Pelosi, Eric Swalwell, Ted Lieu, and Maxine Waters were re-elected. Here’s how I know it’s rigged. When going to vote we were not asked for ID, if you offered ID it was rejected and I personally watched every single person vote with no ID of any kind whatsoever. You were handed a ballot or walked over to a voting machine. When Donald Trump takes office it’s time to federally investigate California elections and prosecute everyone involved in committing fraud.

• @hodgetwins

• This is election fraud. Time to go after them @LaraLeaTrump @ChairmanWhatley.

• @EmeraldRobinson

• I'm told that @howardlutnick is the one on the Transition Team who is pushing
  @mikepompeo for SecDef. He's pushing out any AMERICA FIRST picks too. He's basically a Wall Street "boiler room" guy acting as the proxy vote for Jared Kushner. Same old story.
• Look at all these uncalled Congressional races! Look at all these HALTED vote counts! Look at all of this ELECTION FRAUD!
  

• @disclosetv
  

• JUST IN - 43 Rhesus monkeys "escape" from bio-research lab in Yemassee, South Carolina — AP.

• @WillChamberlain

• There's going to be a lot of talk about Trump needing to "extend the olive branch." NO. If he had lost, he would have been jailed. And for his support of Trump, Elon likely would have been bankrupted and jailed. Those who launched the lawfare must be held accountable.

• @johnrockshomes
  

• Here's a reminder of the jury pool all J6ers faced, and all venue changes were denied.

• @DineshDSouza
  

• Kamala got 60 million votes in 2024. Does anyone really believe Biden got 80 million in 2020? Where did those 20 million Democratic voters go? The truth is, they never existed. I think we can put the lie about Biden’s 80 million votes to rest once and for all.

• @c_plushie

• This is what happened to us, it was all planned, it's not a conspiracy theory, it's a conspiracy! "Bill Gates called Fauci in 2000 to his $147 million home in Seattle. He sat Fauci down in his library and he said 'I want to propose to you a partnership, that you and I work together to vaccinate the world', and the story in my book tells exactly how they went through that." And as @joerogan says . . . "If The Real Anthony Fauci, the book by @RobertKennedyJr, is not accurate, he would be sued." (video)

• @WallStreetSilv
  

• In order to achieve mass deportations, Trump needs to: 1) cut all financial benefits. Whatever the source for food aid, rent subsidies, paying their phone bills, etc. 2) end the temporary refugee status, cancel their work authorization 3) crack down on employers who hire illegals. They will start self deporting.

• @BarnettforAZ

• So Trump wins Arizona, but we lose congressional seats and other state senate and house seats? So you’re trying to tell me that people voted for Trump then turned around and voted for Ruben Gallego and other Democrats at the state level? There’s no way that happened. I’m not buying it. I told our state legislature this is what would happen when we don’t have properly and legally run elections. They take and “steal” what they can to gain control. Almost like a trade off.

• @GenFlynn
  

• My counsel to everyone who reads this, listens to what I say, or gives a sh!t what I do, last nights victory was historic (YES!), but as in warfare, this was only the beginning of the long slog to achieving total victory. The best analogy is that we have seized the beachhead and have broken through the hedgerows into Normandy. I want everyone to understand, we have not achieved a “VE Day”, we are more like D-DAY+1. We have our beachhead, the troops are arriving in strength, with determined purpose, and a clear mandate. But now the real work of rooting out the evil infestation really begins. Removing the infiltrators, the bureaucratic systems and processes that infect decision making and do nothing to protect the safety and security of the American people along with many bureaucrats who wish nothing but ill will to our arriving troops.
  

• @JohnStrandUSA

• I am calling upon @realdonaldtrump to unconditionally pardon Tina Peters. Tina blew the lid on the fact that elections officials deleted the access, audit and adjudication files from Dominion Voting Systems in Colorado. Without her preserving the records, we would have never known about this. The radical Democrat judge in her case refused nearly all of her witnesses and excluded virtually all of her defenses, then sentenced her to 9 years in PRISON. Tina Peters is a gold star mom, a patriot and a political prisoner in America. She must be freed.

• @grayzoneintel

• People need to go to prison for 2020. 19 bellweather counties have correctly predicted every presidential winner from 1980 to 2024 -- except for 2020. Election experts assured us that shifting demographics in these 19 counties were to blame for the miss. Nine straight election cycles with 100% accuracy ended in 2020. Trump won 18 of the 19 counties and officially lost the 2020 election. I stayed up last night to track the results in these counties because if demographics were changing, surely these 19 bellweather counties would no longer be a reliable indicator. Trump again won or is projected to win 18 of the 19 bellweather counties, along with the Presidential Election. So did the demographics shift back? Or was 2020 really stolen? I think we all know the answer.

• @DiedSuddenly
  

• The insane thing is that these numbers are real.

• @JackUnheard
  

• Kamala won EVERY SINGLE state that doesn’t require voter ID…. She didn’t win a SINGLE state that requires it. It’s insane that this is just being ignored. (map)
  

• @bog_beef
  

• Oh wowzers one state enacts ballot security measures and it turns from 50:50 to absurdly blood red. Gee Willickers what could we extrapolate about this. (map)

Night Trading 

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 69.0 -1.5 basis points.

• China Sovereign CDS 62.0 -1.25 basis points.
  
• China Iron Ore Spot 105.8 USD/Metric Tonne +.6%

• Bloomberg Emerging Markets Currency Index 38.2 -.18%.
• Bloomberg Global Risk-On/Risk Off Index 70.6 +1.4%.
• Volatility Index(VIX) futures 15.8 -.2%.
• Euro Stoxx 50 futures +.43%

• S&P 500 futures +.04%.

• NASDAQ 100 futures +.03%.  

Morning Preview Links

BOTTOM LINE: Asian indices are modestly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

Stocks Surging into Final Hour on Mostly Dovish Fed Commentary, Lower Long-Term Rates, China Stimulus Hopes, Tech/Biotech Sector Strength

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 38.3 +.5%
• 3-Month T-Bill Yield 4.53% -1.0 basis point
  

• China Iron Ore Spot 106.0 USD/Metric Tonne +.5%
• Dutch TTF Nat Gas(European benchmark) 41.3 euros/megawatt-hour +2.2%

• Citi US Economic Surprise Index 35.7 +.1 point
  

• Citi Eurozone Economic Surprise Index 16.5 -1.6 points

• Citi Emerging Markets Economic Surprise Index -3.5 +.3 point
• S&P 500 Current Quarter EPS Growth Rate YoY(435 of 500 reporting) +7.8% +1.0 percentage point
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 268.56 +.01:  Growth Rate +15.0% unch., P/E 22.2 +.2
  
• S&P 500 Current Year Estimated Profit Margin 12.53% -1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(7 of 10 reporting) +25.7% unch.
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 376.45 +.16: Growth Rate +32.2% unch., P/E 33.0 +.8
  
• Bloomberg US Financial Conditions Index .99 +26.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index 1.29 +19.0 basis points
  
• US Yield Curve 11.5 basis point (2s/10s) -3.5 basis points
  
• US Atlanta Fed Q4 GDPNow Forecast +2.45% +7.0 basis points
  
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 33.9% +.3 percentage point
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +2.74% unch.: CPI YoY +2.56% unch.
  
• 10-Year TIPS Spread 2.36 -4.0 basis points
  
• Highest target rate probability for Jan. 29th FOMC meeting: 52.6%(-.9 percentage point) chance of 4.25%-4.5%. Highest target rate probability for March 19th meeting: 45.1%(+1.1 percentage points) chance of 4.0%-4.25%. (current target rate is 4.5-4.75%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +293 open in Japan 
• China A50 Futures: Indicating +300 open in China

• DAX Futures: Indicating +165 open in Germany

Portfolio:

• Higher:  On gains in my tech/financial/consumer discretionary/industrial/utility sector longs
  

• Disclosed Trades: None
  

• Market Exposure: 100% Net Long
  

Bull Radar

Style Outperformer:

• Large-Cap Growth +1.8%
  

Sector Outperformers:

• 1) Video Gaming +5.5% 2) Social Media +2.3% 3) Semis +2.3%

Stocks Rising on Unusual Volume:

• APP, WWW, IONQ, UAA, BROS, FRSH, UA, ZG, Z, EBS, CXW, LYFT, RGNX, OKLO, XPEV, CWAN, KLG, CORZ, ELF, FUTU, VTRS, QTWO, VAC, KD, SRAD, GOLF, LB, INDV, GH, FWRG, MTSI, TPC, AAOI, UPWK, ZIP, CDMO, GEO, ELAN, KAR, MCK, PLNT, HAE, CTRI, HUBS, MBLY, DLX, MEOH, SILV, CSGS, WAY, TPX, FIVE, YETI, JAZZ, ACMR, KNTK, VST, ROOT, ARQT, PACS, COHR, NVMI, TTWO, GLOB, NTNX, LSPD, OS, DAVA, CARS, TTD, GILD, CLSK, ANSS, RL, XPOF, ERO, ARM, MT, RCUS, RIVN, G, NET, G, LOMA, CPNG, VALE, WK, VERX, CWEN, LIF, PYCR, STR, TPR and BBAR
  

Stocks With Unusual Call Option Activity:

• 1) XME 2) MPLX 3) MTCH 4) COMM 5) BROS

Stocks With Most Positive News Mentions:

• 1) APP 2) LYFT 3) MCK 4) BROS 5) ZG
  

Sector ETFs With Most Positive Money Flow:

• 1) XLF 2) KRE 3) XLI 4) IGV 5) XBI
  

Charts:

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