Now That the Chipotle Jokes Are Out of Everyone's System...

After a soft open, followed by a spirited snapback rally, equities as a whole are drifting through the New York lunch hour. Crude oil is in the crosshairs for many bottom-fishing traders, as are energy stocks and MLPs, as a whole. However, I suspect another day or two of washing out lower would get us closer to a more textbook tradable bounce than the current setup presents. 

Airlines are finally cracking a bit, too, with AAL DAL UAL among the majors getting whacked, following the previously-strong LUV down on news.

Regarding the news headlines about CMG and customers continuing to get sick, beyond all of that we have a monthly chart bearish rising wedge, after a steep uptrend, which has broken down. So for all of the noise about Chipotle, the great irony is that the stock have followed this path regardless, perhaps to not quite as much notoriety and without as much velocity, though. 

As you can see, CMG is now rather oversold at its lower monthly Bollinger Band. If the stock fails to bounce here I suspect a full-blown panic ensues in the name, what with reports of some of the hottest New York City locations essentially rendered to be ghost towns now.