Week Ahead. ‘auribus teneo lupum’.

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“Next week will start off with some important political news from Europe with the Italian election results coming in early in the morning Monday and the news Germany’s Angela Merkel solidified her coalition paving the way for her fourth term. The Italy vote could rattle some markets while the Merkel news is a countering stabilizing factor.  Keep an eye on Libor this week too.

This week will also have the Trump trade war fallout continue and comments from other countries could cause some volatility within some sectors.  I expect some trade push back with some US tech companies notably semiconductors at risk.   Earnings will be very light with some retail names finishing up Q4.  There will be a handful of Brokerage conferences through out the week including but not limited to the Deutsche Bank Media, Telecom, Citi Global Property, Royal Bank of Canada Financial Institutions, and Raymond James Institutional Investor conference among others.

The Economic calendar will be busy with the calendar more back end weighted for the week. We will kick off the week with Euro-zone PMI and U.S. ISM and PMI on Monday and then On Wednesday we will see the most action with US trade balance, ADP employment data, Non-farm productivity numbers, Consumer credit as well as Euro-zone GDP for Q4, and Chinese FX reserves. Thursday morning China will release trade numbers, ECB policy decision, Germany factory orders, capped off on Friday with BoJ policy meeting U.S. Jobs reports, German Industrial production and trade balance and Chinese CPI/PPI. Last week had a 5% range with the S&P and finished the week bouncing into the close.

This short term bounce could continue especially considering Asia and Europe ending the week short term oversold on several markets and should bounce too.  My view is unchanged with further weakness and volatility ahead in the coming weeks and months but a move, perhaps up to 2725 would be no surprise.  Bullish sentiment is at 30%, while under the midpoint of 50% still is vulnerable to further downside shocks.  As usual, I’ll be all over it this week with the Daily Note.  If you have any questions, comments, and chart requests, please email me.  Have a great week.”

– Mr. Thomas Thornton

New 52-Week Highs 

ABMD – ABIOMED, Inc.

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AGEN – Agenus Inc.

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APEI – American Public Education Inc.

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APTI – Apptio, Inc.

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ARNA – Arena Pharmaceuticals

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ASMB – Assembly Biosciences, Inc.

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ASNA – Ascena Retail Group, Inc.

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ASND – Ascendis Pharma A/S

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ATAX – America First Tax Exempt Investors, L.P.

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AVXS – AveXis, Inc.

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AYX – Alteryx, Inc

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BL – BlackLine, Inc.

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BPMC – Blueprint Medicines Corp.

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BR – Broadridge Financial Solutions, LLC

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BYBK – Bay Bancorp, Inc.

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CCXI – ChemoCentryx, Inc.

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CDXS – Codexis Inc.

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CHGG – Chegg, Inc.

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CHOC – iPath Pure Beta Cocoa ETN

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CNCR – Loncar Cancer Immunotherapy ETF

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COUP – Coupa Software Inc.

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CSOD – Cornerstone OnDemand, Inc.

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CTMX – CytomX Therapeutics, Inc.

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CVEO – Civeo Corp.

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DDS – Dillards Inc

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DFRG – Del Frisco’s Restaurant Group, Inc.

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DIN – Dine Brands Global, Inc.

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DNB – Dun & Bradstreet Corp.

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EGHT – 8×8, Inc.

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EMMS – Emmis Communications Corp.

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EQBK – Equity Bancshares, Inc.

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FATE – Fate Therapeutics, Inc.

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FRPT – Freshpet Inc.

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FSFG – First Savings Financial Group, Inc.

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FXY – CurrencyShares Japanese Yen Trust

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HBIO – Harvard Bioscience, Inc.

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HLG – Hailiang Education Group Inc.

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HUBS – HubSpot Inc.

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ICUI – ICU Medical, Inc.

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JJGB – iPathA Series B Bloomberg Grains Subindex Total Return ETN

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JOBS – 51job Inc.

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JUNO – Juno Therapeutics, Inc.

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JXSB – Jacksonville Bancorp Inc (IL)

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KANG – iKang Healthcare Group, Inc

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KEYS – Keysight Technologies Inc.

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LGCY – Legacy Reserves LP

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LOXO – Loxo Oncology, Inc.

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LPSN – LivePerson, Inc.

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MDB – MongoDB, Inc.

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MGNX – MacroGenics Inc.

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MIME – Mimecast Ltd.

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MSCC – Microsemi Corp.

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MULE – MuleSoft, Inc.

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NATI – National Instruments Corp.

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NEWR – New Relic, Inc.

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NFLX – Netflix, Inc.

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NIB – iPath Bloomberg Cocoa Subindex Total Return ETN

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NKTR – Nektar Therapeutics

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NOW – ServiceNow, Inc.

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NSP – Insperity, Inc.

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NTNX – Nutanix, Inc.

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OLLI – Ollie’s Bargain Outlet Holdings Inc.

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PAYC – Paycom Software, Inc.

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PFPT – Proofpoint, Inc.

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PGTI – PGT, Inc.

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PRFT – Perficient, Inc.

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PRGX – PRGX Global Inc.

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PRPH – ProPhase Labs, Inc.

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QLYS – Qualys, Inc.

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REPH – Recro Pharma Inc.

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RYAM – Rayonier Advanced Materials Inc.

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SFLY – Shutterfly Inc.

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SPLK – Splunk Inc.

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TDOC – Teladoc, Inc.

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TEAM – Atlassian Corp.

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THC – Tenet Healthcare Corp.

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TLND – Talend S.A.

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TSG – The Stars Group Inc.

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TWLO – Twilio Inc.

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ULTI – The Ultimate Software Group, Inc.

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VEC – Vectrus, Inc.

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VEEV – Veeva Systems Inc.

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WDAY – Workday, Inc.

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XITK – SPDR FactSet Innovative Technology ETF

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YCL – ProShares Ultra Yen

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ZEN – Zendesk, Inc.

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Monday 05-Mar:

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Corporate:

Earnings:

·        Post-close: ASNA

Brokerage Conferences:

·        Deutsche Bank Media, Telecom and Business Services

·        Raymond James Institutional Investors

·        Citi Global Property CEO

·        Analyst Meeting: TGT

·        PDUFA: BMY

Economic:

·        US: Markit services PMI (Feb), Non-manufacturing ISM (Feb),

·        Europe: Euro-zone services PMI (Feb); retail sales (Jan), Germany Markit PMI (Feb), UK BRC retail sales (Feb)

·        Asia: China Caixin PMI (Feb)

Tuesday 06-Mar:

Corporate:

Earnings:

·        Pre-open: AFI, CIEN, DCI, GMS, TGT

·        Post-close: ABM, ADSK, AVAV, BOJA, CVNA, FOGO, GWRE, ROST, URBN

Brokerage Conferences:

·        Raymond James Institutional Investors

·        Deutsche Bank Media, Telecom and Business Services

·        Royal Bank of Canada Financial Institutions

·        Citi Global Property CEO

·        Canaccord Genuity Musculoskeletal

·        Analyst Meeting: PSTG, CVX, PBI, KEYS, LKSD, VMI, LRCX, SABR, MTDR, TGT, RWT

Economic:

·        US: Factory orders (Jan), Durable Cap Goods (Jan), Fed speakers Dudley, Kaplan, Brainard

·        Europe: Germany Construction PMI

Wednesday 07-Mar:

Corporate:

Earnings:

·        Pre-open: ANF, BF.B, DLTR, GOLF, PLCE

·        Post-close: COST, FMI, OKTA, REVG, THO

Brokerage Conferences:

·        Citi Global Property CEO

·        UBS Global Consumer and Retail

·        Raymond James Institutional Investors

·        Deutsche Bank Media, Telecom and Business Services

·        BMO Capital Markets Canadian Wealth Management

·        CIBC Industrials

·        Royal Bank of Canada Financial Institutions

·        Analyst Meeting: XOM, HUBB,CERN, PH, XOM, AXP

·        IPO: BTAI

Economic:

·        US: ADP jobs report (Feb), Nonfarm productivity (Q4), US trade balance (Jan), Unit Labor Costs (Q4), Consumer Credit Jan Fed speaker Dudley, Bostic

·        Europe: Euro-zone GDP Q4 final

·        Asia: China FX reserves (Feb),

Thursday 08-Mar:

Corporate:

Earnings:

·        Pre-open: AEO, CBK, DFRG, FMSA, IGT, KR, MTN, NAV, PRTY, TECD

·        Post-close: AREX, CHUY, COO, FNSR, LOCO, MRVL, PAY, UNFI

Brokerage Conferences:

·        UBS Global Consumer and Retail

·        J.P. Morgan Gaming Lodging Restaurant & Leisure Management Access

·        Analyst Meeting: BK, FFIV, AXTA, CBG, FLOW, USG

Economic:

·        US: Jobless claims (Feb)

·        Europe: ECB policy decision, Germany factory orders (Jan)

·        Asia: Japan GDP (Q4 final), current account (Jan), Bank lending (Feb), China trade data (Feb)

Friday 09-Mar:

Corporate:

Brokerage Conferences:

·        J.P. Morgan Gaming Lodging Restaurant & Leisure Management

·        Analyst Meeting: CAPR

Economic:

·        US: Jobs report (Feb), Wholesale trade sales (Jan), Fed speakers Evans

·        Europe: Germany imports / exports for (Jan), Industrial production

·        Asia: Japan BOJ rate decision; China CPI/PPI (Feb)

Select Market

Sentiment Data Provided By Daily Sentiment Index

Cira  Hedge Fund Telemetry  

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