DIS - pokes above key resistance

Whilst the main market saw a day of moderate chop, there was notable strength in Disney (DIS), which briefly pushed above the 200dma - and other aspects of resistance, but settling +0.3% @ $104.87. Near term outlook is extremely borderline. From a pure cyclical perspective, DIS - and the main market, are set for cooling mode.


DIS, daily

DIS'monthly

Summary

Suffice to add, DIS is a stock and company I think is a good barometer of the broader market. It has often warned of main market weakness since the market become stuck in late 2014.

Equity/DIS bulls should be battling for a monthly close in the $105s..  back above the monthly 10MA.

Best guess... renewed downside - along with the broader market, but the situation is very borderline.