That's an Excellent Question, Mr. Lombardi

Shares of Target are getting eviscerated after earnings, to the point where no one even bothers to make the Americana joke of "Target or Tar-Jay" with regard to the retailer's pronunciation. 

Some broad market jitters off the TGT pounding is not too surprising, though. 

However, what is surprising is the action below the surface thus far today. We have ARKK green, thanks in part to RBLX SQ U ROKU, among others in Ms. Wood's ETF, more than pulling their weight. 

Meanwhile, we have the consumer staples in the XLP ETF down more than 3.5% as I write this, with the tobacco plays MO PM showing relative strength, and yet even they are red. MCD is breaking down below the key $240 level, to boot. 

I locked in a modest win on my bond short with Members earlier, as I am not of the mind to press for a bond market crash into Memorial Day. At this rate, we know Powell can talk tough. But it still needs to be seen if he can back it up, come the June and July FOMCs. 

Overall, it is tough to crash the stock market when ARKK is green and one of the better early performers. Bears are feasting on staples for now, which makes for a morning tape full of cross-currents.