1. Chipotle Mexican Grill (CMG) reported earnings after the close on Tuesday, and buyers weren't pleased. After breaking bearishly through the lower end of the symmetrical triangle referenced in Tuesday's Trader's Notebook, the stock was hammered for another 50 handles during after-hours trading. I didn't see a directional trade worth making ahead of Tuesday's report. And despite the sharp EPS-related slide in price, I still don't see a trade worth making. If you insist on bottom fishing CMG, consider waiting for a successful test of the mid-June and early-July lows near $600.
2. I am still in the camp that says gold futures bounce in and around the 200-day simple moving average, biding time before pushing on toward $1225. Give the 21-day exponential moving average time to catch up, and then consider more aggressively looking for reasons to be bullish.
3. Crude oil futures (December contract) continue to trade poorly, but as long as the price is above $44.50-$44.75 and the 50-day SMA, I want to err on the side of bullishness. A close under $44.50 and I'll hang up any lingering bullishness.
4. Core Laboratories (CLB) reports after the close on Wednesday, and while I have no interest in rolling the dice ahead of the report, a close above $120 would look pretty good. In a nutshell, the stock's been gaining acceptance above the 50-day and 200-day SMA, and a decent close above $120 should be sufficient to trigger a more aggressive bid under the name.
Any trading or volume profile related questions can be posted in the comments section below, emailed to me at firstname.lastname@example.org or posted to my twitter feed @ByrneRWS.