Bear Radar

Style Underperformer:

• Large-Cap Growth -.9%
  

Sector Underperformers:

• 1) Pharma -1.2% 2) Software -1.0% 3) Internet -1.0%

Stocks Falling on Unusual Volume: 

• WEST, PFE, CVAC, KMX, PAX, MARA, SUPN, WKC, CCL, CUK, MRCY, AKRO, INTA and BMEA
  

Stocks With Unusual Put Option Activity:

• 1) CGC 2) TOL 3) BB 4) FGEN 5) WBA
  

Stocks With Most Negative News Mentions:

• 1) TSLA 2) IEP 3) CCL 4) PLYA 5) WKC
  

Charts:

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

Bull Radar

Style Outperformer:

• Mid-Cap Value +.9%
  

Sector Outperformers:

• Oil Service +2.4% 2) Regional Banks +2.1% 3) REITs +2.0%

Stocks Rising on Unusual Volume:

• SLRN, SLG, ENFN, CABA, IONQ, ATEC, OPCH and VICR
  

Stocks With Unusual Call Option Activity:

• 1) OPCH 2) WW 3) SLG 4) TOL 5) APLD

Stocks With Most Positive News Mentions:

• 1) MLTX 2) ORIC 3) INVE 4) SLRN 5) APLD
  

Charts:

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

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

Earnings of Note 
Company/Estimate 

Before the Open:

• (KFY)/1.00
• (SCHN)/.64
• (SNX)/2.55
• (WBA)/1.07
  

After the Close: 

• (AVAV)/1.01
• (JEF)/.27
  

Economic Releases   

8:30 am EST

• Durable Goods Orders for May is estimated to fall -.8% versus a +1.1% gain in April.
• Durables Ex Transports for May is estimated unch. versus a -.3% decline in April.
• Cap Goods Orders Non-Defense Ex-Air for May is estimated to rise +.1% versus a +1.3% gain in April.

9:00 am EST

• The FHFA House Price Index MoM for April is estimated to rise +.5% versus a +.6% gain in March. 
• The S&P CoreLogic CS 20-City MoM SA for April is estimated to rise +.35% versus a +.45% gain in March.
  

10:00 am EST

• New Home Sales for May is estimated to fall to 675K versus 683K in April. 
• Conference Board Consumer Confidence for June is estimated to rise to 103.9 versus 102.3 in May.
• The Richmond Fed Manufacturing Activity Index for June is estimated to rise to -12 versus -15 in May.
  

10:30 am EST

• The Dallas Fed Services Activity Index for June.
  

Upcoming Splits 

• None of note
  

Other Potential Market Movers

• The Italy Business Confidence Index,  5Y T-Note auction, weekly US retail sales reports, (SNOW) investor day and the (DAL) investor day could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• NYSE Volume Running -20.0% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 8.7 -1.2
  
• 5 Sectors Declining, 6 Sectors Rising
• 69.9% of Issues Advancing, 27.3% Declining
• 51 New 52-Week Highs, 21 New Lows
• 46.8%(+2.2%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 52.0 -4.0
  
• Bloomberg Global Risk-On/Risk-Off Index 59.6 -2.7%
  
• Russell 1000: Growth/Value 17,487.2 -.32%
• 1-Day Vix 8.8 -22.7%
  
• Vix 14.2 +5.5% 
  
• Total Put/Call .79 -9.2%
• TRIN/Arms 1.19 -27.9%
  

Monday Watch

Night Trading

• Asian indices are -.5% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 116.75 +2.5 basis points.
  
• China Sovereign CDS 60.25 +2.0 basis points.
• China Iron Ore Spot 108.8 USD/Metric Tonne -.4%.
  
• Bloomberg Emerging Markets Currency Index 44.2 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 61.8 +.7%.
• Bloomberg US Financial Conditions Index .22 -8.0 basis points. 
  
• Volatility Index(VIX) futures 16.0 +.16%. 
• Euro Stoxx 50 futures +.22%.
• S&P 500 futures +.14%.
• NASDAQ 100 futures +.16%.

Morning Preview Links

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

Today's Headlines

Bloomberg:

• Prigozhin Turns His Forces Back from Moscow, Avoids Showdown.
• Germany to Step Up Anti-Aircraft Tanks for Ukraine, Welt Says.
• Homebuilding Set to Boost US Economy After Two-Year Contraction.
• Citi Sees More Startups Embracing the Once Dreaded ‘Down Round’.
• Crypto Feeds on AI Hype as Tech Offers New Uses for Blockchain.

Zero Hedge:

• Prigozhin Agrees To Halt Wagner Advance, Start De-Escalation, After Lukashenko's Mediation
• Hartnett: Max 100-150 S&P Points Upside Vs 300 Points Downside By Labor Day
• Almost A Third Of America's Homeless Population Lives In California, Study Finds.
• Hunter Biden Expensed Hookers, Sex Club, On Taxes: Whistleblower.
• Rising Number Of Russian, Chinese Nationals At US Southern Border Raises Security Concerns.
• Rickards: Yes, It Can Happen Here!
• The Great Debate That Will Not Happen.
• 8 Signs That The Futuristic Control Freak Agenda Of The Globalists Is Rapidly Moving Forward.
• Over 500 Excess Heart Deaths A Week In England Since COVID-19 Began.
• Is A New Housing Crisis Brewing In Spain?
• Vienna Is, Once Again, The World's Most-Liveable City.
• Christian Doctor In UK Fired For Refusing To Use Trans Pronouns Cites Genesis, Appeals To European Court.
• Welcome to upside down.
• Escobar: The Greater Eurasia Project Will Replace The 'Rules-Based Order'.
• America's Two Largest Pension Funds Suffer Massive Third Party Data Breach.
• The Endless Lies Democrats Tell In Defense Of Their Failed Californian Utopia.
• US And China 'Drifting Into War': Former Joint Chiefs Chairman.
• Lab-Grown Meat Gets Green Light On US Menus.
• 3M Reaches $10.3 Billion Settlement Over US Allegations Of 'Forever Chemicals' Contamination.
• San Francisco Ranked Worst-Run City In America.
• The Stealth Student Loan Bailout.
• Distraction? Questions Swirl Over Timing Of Sub Story As Biden Bombshells Hit Target.

Wall Street Journal:

• Harry and Meghan Produce a Hollywood Flop: Themselves
• Wagner Forces Will Pull Back, Chief Says
• Demand for Airliners Soars: ‘We Cannot Make Planes Fast Enough’
• Silver-Haired Stars Are the New Box-Office Gold8 min read
• Georgia GOP Fights Bitter War—With Itself.
• The Tearful Auto Executive Who Tapped the Brakes on Electric Cars.
• Car Insurance Rates Are Soaring With Little Relief in Sight.
• Store Brands Strike Back.
• More Online Clothing Sales Come With a Catch: No Returns.

CNBC:

• New technologies hurt car quality as EV brands fare poorly, J.D. Power says.
• High interest rates and economic uncertainty are behind the recent rise in corporate defaults.
• Costco’s $1.50 hot dog and soda combo went viral and became a T-shirt.
• This 15-question test will tell you if you’re addicted to your phone.

MarketWatch.com:

• ‘Lab-grown’ chicken is now legal to sell in the U.S. Here’s where you’ll find it and when.
• Recession concerns gain steam based on MarketWatch weekly gauge

NewsMax:

• Putin: Armed Rebellion by Wagner Chief a Betrayal, Will Defend Russia.
• Social Media Video Calls on Russia Forces to Join Coup.
• Wagner Head: Forces Entered Rostov, Russia, Without Resistance.
• Moscow Security Tightened After Wagner Boss Vows Fight.
• Wagner Mercenary Chief: Russia's War in Ukraine Based on Lies.

Fox News: 

• Starbucks workers strike over alleged 'hypocritical treatment' of LGBTQ+ community.
• Wagner Group forces said to be advancing towards Russia's capital.

TheGatewayPundit.com:

• US Military Shackled to China Because of Rare Earth Minerals and Prigozhin Reportedly has a Psychotic Break.
• Obama Can’t Help Himself-Politicizes OceanGate Sub Tragedy-Ignores Lack of Coverage of Migrant Deaths Under His Watch.
• Liberal Utopia Austin, Texas Homeless Map Shows a Shocking 10K Living in Camps.
• EXODUS: Nearly HALF of Californians Are Considering Leaving the State.
• OceanGate Received $447,000 In PPP Loans During Pandemic.
• McCarthy Says He is Backing Proposals to Expunge Trump’s Impeachments.
• Hunter’s Lawyer Responds to Bombshell “I’m Sitting Here with My Father” WhatsApp Message to Chinese Business Associate – And It’s a Doozy.
• America First Legal Files Civil Rights Complaint Against Nordstrom for Woke and Racist Hiring Practices That Exclude White People.

The Epoch Times:

• TikTok Admits Storing Some US User Data in China: Senators.

Twitter:

• @ClownWorld_ - NYC Drag Marchers chant “we’re here, we’re queer, we’re coming for your children”. (video)
• @IGSquawk - Weekend markets update: #DAX 15760 -0.45% #DOW 33629 -0.26% #NASDAQ 14840 -0.30% #FTSE 7432 -0.34% #HANGSENG 18652 -0.50% #GBPUSD 12703 -0.11% #EURUSD 10882 -0.12% #USDJPY 14376 +0.01%.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 965,617 Reports(+1,228 from prior week) Through June 9th, 2023.

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.