The Ichabod Crane of the Retail Sector

Quick note here about Under Armour, to follow-up on a working thesis we discussed a while back. Simply put, the stock has been going higher even on bad news for the firm, and even with the broad market correction and volatility. 

Earnings are coming up at the end of the month. But gauging the updated daily chart, below, note how well price reclaimed its 200-day moving average after having plenty of chances to roll back over, especially in the face of the data breach news. 

Instead, UAA is hiding under the cover of darkness along with plenty of other surprising retail studs (See: ANF GES LULU ZUMZ). 

As for the market at-large, the transports seemed to have staved off an imminent breakdown and the rest of the market has deemed it fit to rally the Nasdaq back to green. 

We still have plenty of more trading to go before the bell. But if biotechs and large cap tech in general like AAPL close near session highs it ought to put some fear in the eyes of shorts pressing for a Trade War crash.