24Jul3:42 pmEST

The "Take Your Typewriter to the Coffee House" Phase of the Rally

The price action in FIZZ, a favorite in the "hipster" community due to the thriving LaCroix brand, is almost symbolic of the market at-large---You may despite the persistent underlying strength in stocks, just as many resent the "hipster" movement, but there has been little to slow it down. 

Simply put, you cannot stop hipsters--You can only hope to contain them and their cans of flavored sparkling LaCroix. 

With numerous shorts essentially trapped in the float, and earnings not for roughly another month, it could turn into a midsummer night's dream for FIZZ bulls and an outright organic, grass-fed, ironic Williamsburg-based slaughterhouse for shorts. 

The daily chart for FIZZ, below, leaves little hope for bears at the moment, as they need a breakdown in the technicals in the worst way. Back above $110 and I would expect another squeeze higher, at a minimum. And then there is buyout risk, to boot.

Overall, FIZZ remains the type of long setup we want to stalk if market dips remain shallow and shorts have yet to fully capitulate.

More on the broad market in my recap after the bell. 

This Market Flies Kites, Not... Stock Market Recap 07/24/17 ...

 
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