Precious metals will likely see a quick response to the Jackson Hole symposium later this week.
The price action on Tuesday started strong but has faded fast.
Problems in the print are compounded by cautious management commentary on tariff pressures ahead.
COLM looks like it could decline to $88 and break the May low, potentially tugging it down to around $82.
This market is back to where it was last Tuesday.
This is not a market for big, aggressive trades right now.
Kohl's quickly reversed action, proving that management commentary is the key to preserving gains on the print.
I am long KSS, and have a number of options trades in play that I have used to reduce net basis.
Both names have been posting solid earnings that makes their bountiful dividend yields very attractive.
The charts are warning investors to brace for yet another disappointment.