Back to the Grill for July 4th

After covering up our PCLN short on Monday into the broad market sell-off, inside Market Chess Subscription Services, another entry may very well be setting up. 

On the updated daily timeframe for Priceline, below, note how the stock retraced or "checked-back" to the scene of its broken support trendline, the horizontal lower light blue line. Should that support now convert into resistance it should yield an actionable secondary short entry, with a well-defined place to define risk, above $1,175 or so. 

As it stands now, I am not in a rush to throw a bunch of new positions onto the grill before the long weekend, though. If the small caps, lagging this morning, drag the rest of the market down with them, then I may feel more compelled to put on the trade. 

Elsewhere, TSLA is sporting a nice gap up for bulls, while CLF and many other materials miners get slaughtered and should still probably be avoided.