Stocks Like $DIS Make Me Want to See One More Flush

$DIS counts pretty well, and I feel like it needs one more low. It’s hit the 50% retracement, but ideally we want to see it hit the 61.8% (lower end of the box). They’ve made this too easy on the bulls if everything just rallies straightaway from here.

At the bottom of the December low (on the US indices), the put to call ratio never even got to one. Despite what the $VIX looked like, no one was genuinely afraid down there. I do feel like we need another good flush.


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