Superstock Investor
Morning Briefing

Wednesday, May 06, 2020

Morning Matters:

Weekly Timing Chart Of The S&P 500

We are updating our look at the S&P 500 via our favorite chart of SPY through Tuesday's close.

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price abpve the channel. As such, bias is positive with a breakout above the channel.

[Image 1]

Second, the Erlanger Volume Swing (EVS) is at -0.03 from 5.56. Above 0 is good and below 0 is bad. The current action is now negative.

Third, the Erlanger Crossover Spread (EC) Spread is now positive at 68.60 from 65.

Last,the Erlanger Trend Direction (ETD) remains at uptrend.

So what is an investor to do here? We would recommend selective buys here.

Positioning in our Morning Matters Portfolio off this chart and several other indicators moved to 100% cash on February 28th (see Flash Alert #446). We look to starting on the next pullback.


Market Matters:

Stocks Higher This Morning With S&P 500 +17

Breaking News: CNBC interview Federal Reserve St. Louis President James Bullard in a thoughtful interview. (CNBC)

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced:  NCLH  SILK of note.

Notes Priced of note: BLMN of note.

Common Stock filings: KURA SILK NCMI  of note.

Mixed Shelf Offerings:  CHUY  MHK of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None  of note.

Courtesy of IPO Financial

Earnings After The Close:


 DOOR +0.62, ZGNX +0.46, PAA +0.36, DVA +0.35, CAKE +0.34, EA +0.32, SBAC +0.31, DVN +0.26, SFM +0.25, VOYA +0.24, ALL +0.23, CC +0.22, EVBG +0.21, ANET +0.21, NVRO +0.21, AXNX +0.20, IOSP +0.19, SLF +0.18, CMP +0.18, CNO +0.18, MTCH +0.14, ATGE +0.14, PKI +0.14, SUPN +0.14, MELI +0.13, ACLS +0.12, KLAC +0.11, BYND +0.11, OSPN +0.11, ATVI +0.11, NEX +0.09, ATSG +0.09, OXY +0.09, PLMR +0.08, CDK +0.07, ENPH +0.06, EXEL +0.06, GTES +0.06, ONTO +0.06, MODN +0.05, BLKB +0.05, SRC +0.04, VRSK +0.04, COHU +0.04, FMC +0.03, INGN +0.03, AXTA +0.02, RSG +0.02, WU +0.02, KGC +0.02, SU +0.02, ICFI +0.02, BGS +0.01, PEAK +0.01, MEOH +0.01, TCO +0.01  of note.

Flat:  ASH +0.00, AIZ +0.00, BTG +0.00, CAMP +0.00, EQR +0.00, HTA +0.00, MATX +0.00, STOR +0.00


TSLX (1.29), ORCC (1.17), WES (1.07), RGA (1.02), DK (0.77), PRU (0.48), LC (0.38), JAZZ (0.38), BCO (0.37), LPSN (0.36), DIS (0.30), MAT (0.20), SIGI (0.18), GNW (0.18), PLNT (0.17), HA (0.16), NVTA (0.15), SPCE (0.12), MYGN (0.10), INSP (0.07), OTTR (0.07), DHT (0.07), JBGS (0.04), AKCA (0.03), PINS (0.01), PRO (0.01), NCMI (0.01), BLDP (0.01)  of note.

Gap Ups:

LPSN +21%, MELI +15%, SUPN +12%, NEX +9%, BYND +8%, AXNX +7%, ORCC +7%, CC +7%, GSX +6%, CAMP +6%, OSPN +6%, SRC +6%, MEOH +6%, DVN +6%, OXY +6%, RSG +5%, ATSG +5%, NIO +5%, ENPH +5%, DVA +5%, EVBG +5%, DK +5%, ATVI +4%, BGS +4%, CDTX +4%,

Gap Downs: 

PINS -17%, INGN -11%, NCMI -8%, SILK -7%, JAZZ -6%, MYGN -6%, VRT -6%, MAT -5%, PAGP -5%, ANET -4%, INSP -4%

Hourly Action This Past Week: Updated 5/5 Close

News After The Close (In Order)

Lab Corp (LH) antibody test is now available through

Disney + (DIS) sees subscribers rise to 54  million.

Raytheon Technologies (RTX) wins $325 million Navy contract.

Fitch takes Brazil to Negative.

Nordstrom (JWN) to close 16 full line stores permanently. Full restructuring underway.

Supreme Court Justice Ruth Bader Ginsburg was hospitalized for acutre cholecystitis, will participate in arguments tomorrow.


Raises 2020 Guidance: ATVI  EVBG SFM BGS  NTNX 

Withdraws 2020 Guidance: BYND  RSG MAT PKI HTA CC JBGS 

Dividend Cut or Suspension:  COHU DIS SU OSB

Dividend Increase: PEP

Share Buyback Announcements: 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +12 Dow Jones Industrial Average +105 NASDAQ +60 Russell 2000 +6.69 Fair values are higher.  Asia mixed   and Europe higher.

Gold lower, silver higher with copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.63 from $138.83 with yields at 0.70% from 0.66%.

Positive Sectors On Tuesday: Healthcare. Technology and Utilities of note .

Negative Sectors On Tuesday: Financials of note.

One Month Winners: Materials, Conglomerates, Financials and Services of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare, Technology and Consumer Goods of note.

Year to Date: None of note.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)



Earnings This Morning Of Note


SMG +0.92, NXST +0.79, SBGI +0.63, ASTE +0.61, ALXN +0.51, SPR +0.47, SHOP +0.36, STNG +0.31, CVS +0.28, BWA +0.28, GM +0.28, IMOS +0.25, CARS +0.24, GSX +0.19, HZNP +0.19, TMHC +0.17, FTS +0.16, WD +0.16, ALE +0.16, RGEN +0.10, RES +0.09, ROCK +0.09, NYT +0.08, ZTS +0.08, BPMC +0.05, GPN +0.05, FTDR +0.05, ODP +0.05, OSB +0.04, VMC +0.04, DISCA +0.03, WING +0.03, EAF +0.02, KKR +0.01, SBH +0.01, GCP +0.01, CGEN +0.01 of note.


 FUN (2.11), BG (2.01), WYND (1.53), ARES (0.75), BCOR (0.68), IONS (0.23), PZZA (0.20), HEP (0.19), PSN (0.13), FMS (0.09), AEP (0.08), ENBL (0.08), TCP (0.06), NI (0.05), PAG (0.04), MEET (0.03), AQUA (0.03), CBZ (0.03), INMD (0.02), KL (0.01), IAA (0.01), MYE (0.01), DNOW (0.01), RDWR (0.01) of note.

Flat: CDW +0.00, WM +0.00, FLIR +0.00, AVNS +0.00, GOLD +0.00, WEN +0.00, OMI +0.00

Still to Report: 

 Rags & Mags: Highlighted Stories may be clicked through to the original story.

5 Things To Know To Start Your Day. (Bloomberg)

Stocks Making The Biggest Moves. (CNBC)

5 Things To Know Before The Market Opens For Wednesday. (CNBC)

Coronavirus update: U.S. Food Industry rebounds. Germany looks to reopening.

U.S. Coronavirus Map update.

U.S. wants EU to join inquiry into China’s handling of COVID-19, but they are reluctant. (WSJ)

China says U.S. has no evidence that COVID-19 was leaked from Wuhan Lab. (Bloomberg)

50% of workers are meat plants have tested positive for COVID-19. (Bloomberg)

Gilead Sciences (GILD) looks to expand their global supply of Remdesivir. (Reuters)

Airlines are burning $10 billion a month. (Reuters)

Stock Index Tracking

Current through 5/5 close.  Moving averages remain in decent shape.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 5/5  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.69% with the S&P 500 lower by -9.89% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 15.21% through Thursday’s close.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Updated through 5/5 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

MBA Mortgage Applications came out at 7:00 a.m. EDT and

The April ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall -21.5 million from -27,000. Actual 20.23 million.

Weekly Crude Oil Inventories  are due out at 4:30 p.m. EDT.

Geopolitical & Related

President Trump will sign a proclamation for National Nurses Day at 12:00 p.m. EDT and then he lunches with the vice president. At 2:00 p.m. EDT the president meets with the Governor of Iowa. Then at 3:30 p.m. EDT  the president gets his intelligence briefing. Finally, at 4:00 p.m. his press secretary holds a briefing.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: COST FAST  (Conference Call) EFSC SMMNY STM  (Investor/Analyst Meeting).

Sellside Conferences: Wells Fargo Virtual Industrials Conference (5/5-5/6). SunTrust Robinson Humphrey Life Sciences Virtual Meeting Series, (5/5-5/7). D.A. Davidson Financial Institutions Conference (5/6-5/8)

Industry Conferences: Dell Technologies World 2020 (5/4-5/7). Association for Research in Vision and Opthamology (ARVO) Annual Meeting (5/3-5/7)

M&A Activity

Upgrades & Downgrades 


Today's Superstock Investor Stock Scorecard:

Wendy's Company (WEN)
by Superstock Investor


Wendy's (WEN) made news yesterday by note having meat in 20% of their restaurants. Earnings came in today at $0.09 which was the estimate. Current price is $18.81. Is there value here?

Company Information

Company: Wendy's Company
Sector: Consumer Services
Industry: Restaurants
Market Cap:  $4,222,056,500


  Price %Gain  
Current Price $16.55    
Price Target $17.38 4.8%  
Upper Bound $21.72 31.3%  
Lower Bound $14.77 -10.8%  

Stock data last updated 03/19/2019.

Data provided by QPI, Inc. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. QPI, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing this page, you agree not to redistribute the information found herein.