White Collar Tastes; Blue Collar Grind

After a hot CPI print this morning we have some incredibly familiar Nasdaq-versus-the-world price action playing out as we speak.

At the risk of being redundant regarding that glaring divergences across a structurally weak equities (and credit) market, I would much rather focus this morning on actionable trade ideas: The nitty-gritty blue collar idea flow for traders in lieu of indulging too much in the macro world. 

Specifically, Home Depot, Lowe's, and Starbucks, respectively below on their daily charts, all catch my eye as short setups. One of my our Members also flagged FedEx, too. 

As you can see, we have bear flag breakdowns in the context of prior downtrends, with SBUX clearly being the overall weakest of the three.

That said, you are talking about, easily, three of the biggest consumer names on the planet and are typically excellent tells about the health of the consumer, or lack thereof. I still strongly suspect the great American consumer is slowly but surely getting tapped out of that juicy pandemic cash and even credit lines.