If We're Gonna Grind, Might as Well Grind and Brew

Equities are still having issues holding much of anything, with the FANG stocks masking a good deal of faded breakouts and grinding action below the surface of late. I have an eye on PCLN's outperformance here, especially over $1480. 

But on the whole most of my watchlist long ideas are not gaining much traction at all. At a minimum, bulls need to stabilize the biotechnology and healthcare stocks in order to put a floor underneath equities. 

So if we are going to grind, we might as well grind and brew. 

Coffee is a bright spot for us, as the JO ETN continues to confirm a major rounding bottom for the commodity, after multi-year bear market. The weekly chart, below, illustrate as much. I am now looking to see if JO can hold above $24 to build on this progress.

With coffee surging today, SBUX may be setting up as a quick short before earnings. 

More in my usual Midday Video for Members.