Nike Tops Out in Mid November of 2021

Nike's stock has sold off about 10% in a straight line since that footlocker disappointment last week here. The market, again, nobody's focused on Nike because at 4,200, everybody's focused on the S&P 500. But if you look at Nike and say, wait a second, the stock has bounced since last fall. It seemingly has a short-term double top around 128. Maybe we'll see inventory problems at Nike. And then on top of that, the things that are going on with China, one has to be at least cautious going into earnings.

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