Latecomer Chipotle Shorts Need to Avoid Getting Barbacoa'd

After the E. coli news in recent weeks, CMG is staging a relief rally today from oversold weekly chart conditions, seen below. 

After plunging in a virtual straight line down over the last month, the stock hit the lower weekly oversold Bollinger Band marking intermediate-term rather oversold conditions. At the moment, I would look for a test of $600 before considering a fresh short entry. 

Overall, CMG is a damaged market leader, despite the "FANG" strength. 

I will discuss those stocks and plenty more in my usual Midday Video for Members.