$SHAK: CHART OF THE DAY

Shake Shack ($SHAK) is up there in my top 5 charts I’m watching right now. I took a position right after I finished eating at their fine establishment in Grand Central station, a review of my experience can be found HERE.

The daily chart of the $SHAK looks just about ready to go here with all of the short term moving averages lining up underneath price. This pattern normally creates a springboard for price and also gives you a clear exit point should the trade go against you.

The pattern below is a pattern we look for often inside our trading room, 12631. Note: If you’re not inside our trading room, I suggest you give it a try. We have some big changes coming to the room as we launch the second half of 2016.

$SHAK – Watch for a “BTFO” move here:

The gold miners are leading the way this morning with $GDX up a cool 5%. It’s all about Basic Materials so far today:

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From our runner screen inside Exodus, here are a few tickers to keep an eye on today: DNR, PACB, CRC, WTI, SA, MTCH, & ALJ

Today’s full runner screen can be found HERE.

$TSLA is trading really well this morning, reclaiming the 200 day with passion. The stock landed on our runner screen inside Exodus, and looks ripe for a move back to relative highs. Here’s a look at the daily chart:

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Here are a few more tickers to watch from today’s runner screen: CF, BAS, WATT, CRC, WTI, & CVI

Today’s full screen can be found HERE.

Take a look at the group today: MOS, POT, CF, even the IPI is off the mat here. What do you guys think? Have the ferts bottomed?

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Here’s a look at the leading industries on the day, with Oil Equipment & Services leading the way:

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Our daily runners to watch today include: RIG, SDRL, CF, OAS, DNR, NE, IPI, NOV, SCTY, & ATW

Today’s full runner screen, courtesy of Exodus, can be found HERE.

On the day, I took positions in $ATW & $FB.

The world just lost a bad Man! Legendary Boxer Muhammad Ali has passed away tonight at age 74. The three-time heavyweight champion had been battling with parkinson disease.

RIP to the great Cassius Clay.