Monday, June 03, 2019

Bear Radar

Style Underperformer:
  • Large-Cap Growth -1.5%
Sector Underperformers:
  • 1) Internet -3.5% 2) Software -2.6% 3) Gaming -2.2%
Stocks Falling on Unusual Volume: 
  • IGV, QTEC, CNC, CONN, GOOG, FB, IMMU, HPT, QFIN, BPMC, FANH, ALTR, CYBR, PCTY, CDAY, SKYY, ENB, FNKO, AMZN, GTHX, DOCU, PHI, TRHC, PFPT, BYD, ZUO, CDAY, GDDY, AMZN, CARS and RPD
Stocks With Unusual Put Option Activity:
  • 1) CELG 2) ADP 3) AMBA 4) PRU 5) EWH
Stocks With Most Negative News Mentions:
  • 1) FTD 2) ADRO 3) GOOGL 4) CNC 5) FB
Charts:

Bull Radar

Style Outperformer:
  • Large-Cap Value +.4%
Sector Outperformers:
  • 1) Gold & Silver +3.8% 2) Biotech +1.6% 3) Ag +1.5%
Stocks Rising on Unusual Volume:
  • CY, EE, MRTX, CODI, QURE, DD, NKTR, IOVA, PVH, DCPH, KL, AMGN, BVN, DQ and USLV
Stocks With Unusual Call Option Activity:
  • 1) DOCU 2) MRTX 3) CAL 4) KWEB 5) CARS
Stocks With Most Positive News Mentions:
  • 1) GNCA 2) AMGN 3) TROX 4) HMI 5) URI
Charts:

Morning Market Internals

NYSE Composite Index:

Sunday, June 02, 2019

Monday Watch

Night Trading
  • Asian indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.0 +4.25 basis points.
  • China Sovereign CDS 61.25 +4.25 basis points.
  • Bloomberg Emerging Markets Currency Index 65.98 +.14%.
  • FTSE 100 futures -.46%.
  • S&P 500 futures -.57%.
  • NASDAQ 100 futures -.78%.

Earnings of Note
Company/Estimate

Before the Open:
  • (BOX)/-.05
  • (COUP)/-.04
After the Close:
  • None of note
Economic Releases
10:00 am EST
  • The ISM Manufacturing Index for May is estimated to rise to 53.0 versus 52.8 in April.
  • The ISM Prices Paid Index for May is estimated to rise to 51.0 versus 50.0 in April.
  • Construction Spending MoM for April is estimated to rise +.5% versus a -.9% decline in March.
Afternoon
  • Wards Total Vehicle Sales for May is estimated to rise to 16.8M versus 16.4M in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The President's visit to the UK, Fed's Bullard speaking, China Manufacturing PMI report, Eurozone PMI report, Goldman Lodging/Gaming/Restaurant/Leisure Conference, (AAPL) WWDC 2019 and the BIO International Convention could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open lower and to maintain losses into the afternoon.  The Portfolio is 25% net long heading into the week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week mixed as China/Mexico tariff concerns, global growth fears and European/Emerging Markets/US High-Yield Debt Angst offset bargain-hunting, technical buying and more dovish FOMC commentary. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 25% net long heading into the week.

Saturday, June 01, 2019

Today's Headlines

Bloomberg: 
  • Had bullish commentary on (HCP), (AVGO), (WELL), (Z), (GIS) and (VTR).