Monday, December 30, 2019

Bear Radar

Style Underperformer:
  • Large-Cap Growth -.5%
Sector Underperformers:
  • 1) Software -.7% 2) Computer Services -.6% 3) Agriculture -.6%
Stocks Falling on Unusual Volume: 
  • CIM, FLXN, PMT, TTD and RAD
Stocks With Unusual Put Option Activity:
  • 1) MTCH 2) WVE 3) RAD 4) PAA 5) NTAP
Stocks With Most Negative News Mentions:
  • 1) SPOT 2) IHRT 3) TWTR 4) MTCH 5) GRUB
Charts:

Bull Radar

Style Outperformer:
  • Small-Cap Value +.1%
Sector Outperformers:
  • 1) Oil Service +2.2% 2) Gold & Silver +1.2% 3) Shipping +1.0%
Stocks Rising on Unusual Volume:
  • MAXR, AXSM, PSNL, CRNC, RRGB, PTON and LBRT
Stocks With Unusual Call Option Activity:
  • 1) MIK 2) MAS 3) ASHR 4) APC 5) AMGN
Stocks With Most Positive News Mentions:
  • 1) NIO 2) VAL 3) AXSM 4) SLGL 5) XLRN
Charts:

Morning Market Internals

NYSE Composite Index:

Sunday, December 29, 2019

Monday Watch

Today's Headlines
Bloomberg:
  • Asian Stocks Set for Muted Open, at 18-Month High. Asian stocks are set to drift on Monday around the highest in a year and a half, with few financial market catalysts going into the year-end. Futures slipped in Tokyo and were little changed in Hong Kong. Australian equities opened flat. U.S. futures were little changed after stocks ended Friday mixed as traders assessed a rally that’s added more than $5 trillion to equities this year. The S&P 500 Index notched a fifth straight weekly advance. Treasuries rose on Friday, when the dollar logged its biggest drop since October. Nikkei 225 futures fell 0.3% in Singapore. Australia’s S&P/ASX 200 Index fell 0.1%. Hang Seng Index futures were little changed. S&P 500 futures rose about 0.1%. The S&P 500 was little changed Friday. 
Wall Street Journal:
Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 53.0 unch.
  • China Sovereign CDS 30.75 -1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 66.58 +.03%.
  • FTSE 100 futures n/a.
  • S&P 500 futures +.09%.
  • NASDAQ 100 futures +.15%.

Earnings of Note
Company/Estimate
Before the Open:
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Advance Goods Trade Balance for Nov. is estimated at -$69.0B versus -$66.5B in Oct.
  • Retail Inventories MoM for Nov. is estimated to rise +.1% versus a +.3% gain in Oct.
  • Wholesale Inventories MoM for Nov. is estimated to rise +.2% versus a +.1% gain in Oct.
9:45 am EST
  • The MNI Chicago PMI for Dec. is estimated to rise to 48.0 versus 46.3 in Nov.
10:00 am EST
  • Pending Home Sales MoM for Nov. is estimated to rise +1.5% versus a -1.7% decline in Oct. 
  • Dallas Fed Manufacturing Activity for Dec. is estimated to rise to 0.0 from -1.3 in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Manufacturing PMI report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer 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 week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week modestly higher on global growth optimism, technical buying, diminished global trade tensions, short-covering, oil gains and seasonal strength. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.

Saturday, December 28, 2019

Today's Headlines

Bloomberg:
Wall Street Journal:
CNBC:
Barron's:
  • Had bullish commentary on (AAPL), (VIAC), (NFLX), (KO), (AMAT), (ATVI), (SMAR), (DDOG), (TSM) and (ICPT).
  • Had bearish commentary on (BA).
MarketWatch.com:
Zero Hedge: