The overall market today broke supports and faded hard pretty much all session with the Nasdaq closing down 2% and the S&P 500 falling 1.23% . Many of the high beta names took a big hit today and are probably going to be difficult mentally to press short now at this point given the fact you may have missed the majority of the move. For this reason tonight I wanted to focus on a list of stocks that have yet to actually breakdown but very well could tomorrow.
WFM - On a breakdown watch here, today it got a big time rejection when it hit new 52w highs but then went on to close on the lows. Watch for a break under support at 58.75 tomorrow morning, could see a pretty decent slide down to 56.50ish
DIS - Also on breakdown watch tomorrow, this one has been holding above support for the last few days but its looking heavier and heavier each day. Watching for a break under 63.83 to get some puts with a target set at 62ish.
BA - Watching for support to fail tomorrow which is at 115. Simple setup here, if it breaks 115 then it could see a pretty significant fade down to next nearest support at 111 which is where the gap is from a few days ago.
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