Bear Radar

Style Underperformer:

• Small-Cap Growth -.7%

Sector Underperformers:

• 1) Airlines -2.7% 2) Hospitals -2.5% 3) Oil Tankers -2.2%

Stocks Falling on Unusual Volume:

• EGRX, GBT, MSFT, CMTL, CP, QURE, LBRDA, OSG, APLP, INXN, DEO, CBPO, RH, RYI, GMS, PII, ASML, TR, PRMW, CRTO, VOD, TPC, MYE, BT, CRH, AXDX and NVCR

Stocks With Unusual Put Option Activity:

• 1) LYB 2) LNKD 3) V 4) EXPE 5) JCI

Stocks With Most Negative News Mentions:

• 1) OSUR 2) EMES 3) FMSA 4) NMM 5) WLK

Charts:

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

Bull Radar

Style Outperformer:

• Mid-Cap Value -.2%

Sector Outperformers:

• 1) Steel +.8% 2) Gold & Silver +.5% 3) Restaurants +.3%

Stocks Rising on Unusual Volume:

• LNKD, RGR, SWHC, SYMC, WATT, TWTR and HMNY

Stocks With Unusual Call Option Activity:

• 1) SWHC 2) EGRX 3) AMJ 4) MBI 5) ASNA

Stocks With Most Positive News Mentions:

• 1) NVDA 2) QDEL 3) BSTC 4) NGL 5) MBII

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running -6.1% Below 100-Day Average
• 2 Sectors Rising, 8 Sectors Declining
• 45.1% of Issues Advancing, 51.9% Declining
• 80 New 52-Week Highs, 30 New Lows
• 56.4% of Issues Above 200-day Moving Average
• Average 14-Day RSI 43.2%
• Vix 18.4 +7.8%
• Total Put/Call .98 -10.1%
• TRIN/Arms .81 -42.2%

Monday Watch

Night Trading

• Asian indices are -2.0% to -1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 144.0 +4.5 basis points.
• Asia Pacific Sovereign CDS Index 53.0 +1.0 basis point.
• Bloomberg Emerging Markets Currency Index 71.80 -.12%.
• S&P 500 futures -.37%.
• NASDAQ 100 futures -.38%.

Morning Preview Links

Earnings of Note

Company/Estimate

• None of note

Economic Releases

6:00 am EST

• NFIB Small Business Optimism for May is estimated to fall to 93.5 versus 93.6 in April.

8:30 am EST

• The Import Price Index MoM for May is estimated to rise +.7% versus a +.3% gain in April.
• Retail Sales Advance MoM for May are estimated to rise +.3% versus a +1.3% gain in April. 
• Retail Tales Ex Autos MoM for May are estimated to rise +.4% versus a +.8% gain in April.
• Retail Sales Ex Autos and Gas for May are estimated to rise +.2% versus a +.6% gain in April.  

10:00 am EST

• Business Inventories for April are estimated to rise +.2% versus a +.4% gain in March.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Australian inflation report, OPEC monthly update, Stifel Industrials Conference, (GWW) May sales, (AAPL) WWDC and the (JCI) analyst day could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the week.

Weekly Outlook

• Week Ahead by Bloomberg.
• Wall St. Week Ahead by Reuters.
• Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week modestly lower on rising European/Emerging Markets/US High-Yield debt angst, global growth concerns, commodity weakness, yen strength, terrorism fears and escalating Brexit worries. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 25% net long heading into the week.

Market Week in Review

• S&P 500 2,092.81 -.37%*

The Weekly Wrap by Briefing.com.

*5-Day Change