Chipotle Mexican Grill (CMG)

Pre-market update: Asian markets traded 0.8% lower. European markets are trading 0.5% higher. US futures are trading 0.2% higher ahead of the market open.  Economic reports due out (all times are eastern): None.  Technical Outlook (SPX): Should be a low volume day on the market with banks and bond markets closed.  Friday saw another major

Pre-market update: Asian markets traded 1.5% lower. European markets are trading 0.8% lower. US futures are trading 0.1% lower ahead of the market open.  Economic reports due out (all times are eastern): Import and Export Prices (8:30), Treasury Budget (2) Technical Outlook (SPX): Another huge reversal yesterday, wiping out the bull gains from the FOMC

Pre-market update: Asian markets traded 0.2% lower. European markets are trading 0.3% lower. US futures are trading 0.1% lower ahead of the market open.  Economic reports due out (all times are eastern): Jobless Claims (8:30), Wholesale Trade (10), EIA Natural Gas Report (10:30) Technical Outlook (SPX): That was an amazing bounce yesterday where SPX rallied

Pre-market update: Asian markets traded 1.0% lower. European markets are trading 0.4% lower. US futures are trading flat ahead of the market open.  Economic reports due out (all times are eastern): MBA Purchase Applications (7), EIA Petroleum Status Report (10:30), FOMC Minutes (2) Technical Outlook (SPX): SPX confirmed the rejection at 1978 and finished lower

Pre-market update: Asian markets traded 0.2% lower. European markets are trading 0.8% lower. US futures are trading 0.4% lower ahead of the market open.  Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45), Redbook (8:55), Consumer Credit (3) Technical Outlook (SPX): Weakness heading into the open followed by rejection at 1978 on SPX

Pre-market update: Asian markets traded 1.1% higher. European markets are trading 0.7% higher. US futures are trading 0.4% higher ahead of the market open.  Economic reports due out (all times are eastern): Treasury STRIPS (3) Technical Outlook (SPX): Huge follow through on Friday to pile on gains from the large doji-candle formed on Thursday.  Strong signs

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Last update, I stated there was prospects for an upside breakout. Instead all we got was a head fake followed by today’s downside break of the ascending triangle. From here, look for targets to the downside that includes $510 and if that cannot hold, a move to the lower $480’s is possible, though this will

Watch for another breakout in Chipotle (CMG) – this time in the form of an ascending triangle. The stock looks solid enough for an upward move into the $560’s to $570’s I like the stop-loss placement as well on this trade, as you can easily place it just below the short-term uptrend that helps form the

Pre-market update (updated 9am eastern): European markets are trading -0.5% lower. Asian markets traded traded in a wide range between -1.6% and as high as +0.9%. US futures are down moderately ahead of the opening bell.  Economic reports due out (all times are eastern): Durable Goods Orders (8:30am) Technical Outlook (SPX): First 2-day pullback that we