Some market watchers are anticipating great earnings numbers from Chipotle Mexican Grill (CMG) on Tuesday. The last time we looked at CMG was on July 16, and I was worried about a top reversal pattern on the stock. We did not identify the "top tick" but we were close to the end of the rally. Prices fell hard and fast from late August to late January.
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Like or not, this is classic bear market action playing out.
The charts don't look very appetizing for the spice company.
The charts show further declines ahead for the credit card company.
When one of the last holdouts of the S&P 500 turns down the selloff is in full gear.