Bull Radar

Style Outperformer:

• Mid-Cap Growth +.1%

Sector Outperformers:

• 1) Gaming +1.2% 2) Steel +.9% 3) Semis +.8%

Stocks Rising on Unusual Volume:

• GLPG, AVRO, HI, CARA, BCOV, CYBR, KIDS, KB, OMCL, PETS, BUD, CVTI, RCL, NVS, CGC, TORC, RBA, MAIN, CROX, ESTC, ZM, SFIX, MINI, HSKA and CUTR

Stocks With Unusual Call Option Activity:

• 1) ON 2) ILMN 3) ACAD 4) C 5) INTC

Stocks With Most Positive News Mentions:

• 1) GO 2) HI 3) GILD 4) SYBX 5) CAPR

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -14.8% Below 100-Day Average
• 7 Sectors Rising, 4 Sector Declining
• 42.7% of Issues Advancing, 54.4% Declining
• 150 New 52-Week Highs, 29 New Lows
• 62.2% of Issues Above 200-day Moving Average
• Average 14-Day RSI 52.2%
• Vix 13.0 +4.8%
• Total Put/Call 1.07 +20.2%
• TRIN/Arms 1.28 +32.0%

Monday Watch

Night Trading

• Asian indices are -.75% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 63.50 -.25 basis point.
• China Sovereign CDS 42.25 -.25 basis point.
• Bloomberg Emerging Markets Currency Index 67.70 unch.
• FTSE 100 futures -.24%.
• S&P 500 futures -.12%.
• NASDAQ 100 futures -.19%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (C)/1.80

After the Close:

• (JBHT)/1.35

Economic Releases

8:30 am EST

• Empire Manufacturing for July is estimated to rise to 2.0 versus -8.6 in June.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The China GDP report could also impact trading today.

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

Weekly Outlook

• Wall St. Week Ahead by Reuters. 
• Weekly Market Outlook by Yahoo. (video)
• Global Economy Week by Bloomberg.
• Stocks to Watch Next Week by Seeking Alpha.
• Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week mixed as profit-taking, less dovish FOMC commentary and European/Emerging Markets/US High-Yield Debt Angst offset short-covering, earnings optimism and technical buying. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.

Today's Headlines

Bloomberg:     

• BOE Agents Help Policy Makers See Through Brexit Economic Noise.  

• China Wants Its Own Goldman Sachs. It Has a Big Headache Instead.

• Your Weekend Reading: The Epstein Fallout Begins.

• The Black Hole Engulfing the World's Bond Markets.

• The Shale Boom in the Permian Is Slowing Down.

• Ocasio-Cortez and Her Liberal Blessing Sought by 2020 Democrats.

Wall Street Journal:

• Floor Traders Clash With NYSE.

• Next Big Thing in ETFs: Less Transparency.

• Can Ilhan Omar Overcome Her Prejudice?

• Schools Relax Dress Codes in Bid to End Body Shaming.  

• Oil Giant Shell’s Pivot to Electricity Could Bring Investors Less Sizzle.  

• The Only Thing the Smart Money Is Smart About.

MarketWatch.com:

• Facebook(FB) stock hits highest price in nearly a year after reports of $5 billion FTC fine.

• With trade tensions escalating, here are 5 things to know about this earnings season.

• Donald Trump is right about bitcoin.  

• Dollar Tree(DLTR) and Other Stock Picks From Hedge Fund Chief Oscar Schafer.  

• Weekend roundup: Kellogg’s(K) underappreciated rival to Beyond Meat(BYND).

Fox News:

• Biden makes indirect dig at Harris’ honesty over Medicare for All plan.

• Storm upgraded as it nears landfall with 75mph winds.

CNBC:

• These stocks are second-half comeback stories, according to Wall Street analysts.

• These are the stocks Wall Street analysts believe will lead the Dow to 28,000.

• America’s 10 most expensive states to live in 2019.

• As Juul grapples with teen vaping ‘epidemic,’ CEO tells parents ‘I’m sorry’.

Zero Hedge:  

• Prosecutors To Drop Trump Org Investigation With No Charges.

• Retail Apocalypse: 12,000 Stores Are Forecasted To Close This Year.

• Democratic Chicago Mayor Bans ICE From City Police Databases Ahead Of Planned Raids.

• "Playing With Fire": China's Military Warns US Over Taiwan Arms Sales.  

• The Death Of Privacy: Government Fearmongers To Read Your Mail.

• Aussie Landlords Hit With Biggest Drop In Rent In 15 Years. 

• Slow-Moving Barry Threatens Louisiana Ports, Refineries, LNG Facilities.

• "Alexa, How Do We Subvert Big Tech's Orwellian Internet-of-Things Surveillance?"

• Stocks Surge To Record Highs As Payrolls & Powell Spark Bond Bloodbath.

Business Insider:

• Floodgates, mega-shelters, and the National Guard: How Louisiana is preparing for Tropical Storm Barry.

Friday Watch

Night Trading 

• Asian equity indices are -.25% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 63.75 +.5 basis point.

• China Sovereign CDS 42.5 +2.0 basis points.

• Bloomberg Emerging Markets Currency Index  67.73 -.01%.

• S&P 500 futures +.22%.

• NASDAQ 100 futures +.24%.

Morning Preview Links 

Earnings of Note 

Company/Estimate

Before the Open:

• None of note

After the Close:

• None of note

Economic Releases 

8:30 am EST

• PPI Final Demand MoM for June is estimated unch. versus a +.1% gain in May.

• PPI Ex Food and Energy MoM for June is estimated to rise +.2% versus a +.4% gain in May.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The China Trade Balance report and the Bloomberg July US Economic Survey could also impact trading today.

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology 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.