DIS - turning to the dark side

Whilst the main market started the week on a moderately positive note, there was a very notable opening reversal in Disney (DIS), swinging from $110.10, to settle -1.1% @ $106.54. Near term outlook is weak, with next support within the 105/100 zone.


DIS, daily

DIS, monthly

Summary

re: Friday. DIS was greatly impacted on a down grade from BTIG, which issued a sell target of $90.
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Little to add. It remains utterly bizarre how the market is now turning on DIS. In addition to the Friday down grade, there remain longer term concerns about ESPN viewership.

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*I remain long DIS, but its turning into a big of train wreck. If the main market is not able to make a new high in Jan'2016, then DIS is not going to be breaking a new high (>$122) in the first half of 2016.