Making Sense of the Chaos

TASR seems to be the obvious play here, with headlines popping up again for this news-driven stock. The daily chart, below, shows an orderly consolidation within the context of an uptrend, after the stock's prior rally. 

In addition, TASR is a much better technical long setup than DGLY, another news-driven stock which has noticeably slipped in recent weeks. 

Still, many eyes are on TASR, and in this choppy market no breakout should be assumed as a slam-dunk. I would like to see the name hold over $33 into the afternoon to improve. 

Elsewhere, note the inability of transports to hold a bounce, save leader FDX. If FDX does, indeed, falter then I suspect a violent leg down is imminent for the sector. In the meantime, airlines are getting hit across the board, and even names like VA look like shorts here. Rails are back on the short radar for me, as well.  Indeed, the near-parabolic strength in names like AMBA FEYE of late is masking some weak action in other parts of the tape.