Editor's Note:

No new trades tonight. Stocks are starting to look a little bit oversold here. I'd rather not chase them lower. The trend is down so we want to look for a bounce or failed rally near overhead resistance as our next entry point for bearish positions.

I almost added BWLD as a bearish trade tonight with the breakdown under $60 and its simple 50-dma. Nimble traders may want to consider new positions now and target a drop toward $55 and/or its 100-dma.

- James