A Wet Republic of Underwater MGM Longs

After the heavily-promoted but Mayweather/Pacquiao fight turned into a punchline of sorts due to its anticlimactic nature, combined with soft Macau numbers this morning, MGM Resorts International is notably lagging a market bounce. 

On the daily chart, below, note the potential for another breakdown below $21. Bulls will want to salvage the action with a strong close today, to potential buy the bad news. 

But, for now, major casino remain weak overall and MGM is the laggard du jour.