DIS-Canary in the coal mine for the US stock market?Since 1974 Disney has always made a "yearly" higher low as depicted by the red hash marks on this chart.
In 2022 it closed the year below the previous yearly "pullback low"...yikes!!!
Could Disney be an early warning sign of what is to come over the next 10 years for the US stock market? It is a 1900's quintessential "American" company.
Anyone looking to add this to your child's portfolio might want to reconsider...
(Of note: Disney began trading on the NYSE on November 12, 1957 and Trading View begins charting it in 1968 so this chart doesn't show 1957-1968.)
Lastly, I would not recommend starting a short position right now (in fact, the daily chart looks quite bullish right now) however if you are "really" long this company I would take any strong bear market rallies as a chance to reduce or exit your position...there is just too much unknown about what this type of closing implies for the stock IMO.