Shake Shack Inc (NYSE:SHAK) reported second quarter earnings of $0.14 on revenue of $66.5 million. The stock sold sharply after-hours trading from a closing price of $40.87 to $37.05. Institutional traders are buzzing about a key support level to buy at $33.50. Considering the amount of chatter at this level, I will be looking for a buy here.

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Amazon (NASDAQ:AMZN) continues to hammer on a chart trend line that has kept it in check for the last few months. Anytime Amazon has hit this trend line, it has pulled back. The trend line is up-sloping which is significant for the following reason. These trend line rarely break to the upside and the more they hammer on the trend line but fail to break, the more likely a bigger correction takes place. This is a proven technical factor on charts throughout history, especially ones at all-time highs. Based on Amazon hammering against this trend line now six times, it is likely the next pull back will be large, potentially taking the stock from its current level of $670 to as low as $600.

Markets have reversed off all-time highs on an intra-day basis. While they are only slightly lower on the chart, there is a potential topping tail forming on multiple major indexes and ETF's. The level institutions are paying close attention to is revealed in the chart below. If at 4PM ET, the $SPY closes below this line, it is likely markets will begin to see selling with the first target at $216.35.

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SunPower Corporation (NASDAQ:SPWR) reported earnings after the stock market closed today. The stock crashed almost 30% after-hours. The company reported a net loss of $0.22 per share on revenue of $401.8 million. This beat analysts expectations slighty. The reason for the massive after-hours collapse came in the form of a warning for the coming quarter and year. In addition, the company is laying off 15% of its work force and will take a $30-$45 million restructuring charge.