Whilst the main market closed significantly lower, there was more powerful weakness in Disney (DIS), which opened sharply lower (intra low $100.62), and settling -4.0% @ $102.29. Near term outlook offers further weakness to the 98/96 zone.
Suffice to say... underlying EPS/revenue was broadly fine, but they were a fractional miss from what the market had been expecting.
In terms of price.. there is a clear trend break.. and its notable DIS was trading in the $99s in Tuesday AH.
Further weakness to the 98/96 zone seems due in the near term.
More broadly, DIS looks vulnerable to the 80/75 zone.
To be clear... I like DIS (how can you not like the company that owns the two greatest film franchises - Star Wars and the Marvel universe?). For the moment though.. with the main market still vulnerable to a 20% drop this summer/early autumn to the sp'1600s, DIS remains one I shall merely watch.