Low and Slow

With negative headlines and weakness in shares of both AAPL and DB this morning, we have some broad market softness starting the post-holiday week off on a dour note. The pace of the selling in the first hour or so smacks more of a "low and slow" market being grilled rather than a fast burn for bears, which is fairly typical of summer action barring news or a bonafide bearish catalyst for serious volatility. 

Still, there are some notable exceptions, with names like ROKU completely ignoring the Nasdaq's weakness, for example. 

In addition, some consumer and retail names continue to impress, as you can see a variety of those stocks either marginally red or soundly in the green. 

Under Armour is a name we have grown increasingly bullish on in recent weeks for Members. And on the updated UAA daily chart, below, you will note the recent, mild pullback may be over. If UAA can hold over its 20-day moving average (orange line) early this week even in a low and slow tape it could easily usher in the next leg higher for a former retail leader trying to reassert itself long-term as a brand still to be reckoned with.