While Walt Disney was in the midst of a 6 day downtrend— in which it lost a total of 9.82%— Yesterday may indicate a change of direction; generally flat but with a slight bullish bias, Walt Disney ranged between $90.7 and $92.87 before closing higher at $92.86.

Meanwhile, United States TIC Net Long-Term Transactions (Mar) came out at 133.3 billion, while a consensus of analysts was expecting 85.4 billion. United States NY Empire State Manufacturing Index (May) released yesterday at 12:30 UTC with a figure of -31.8, while the previous figure was 10.8.

Technical analysis of Walt Disney's past price action reveals multiple support and resistance levels: Walt Disney could be slowing down soon as it approaches resistance at $93.59. Of course, crossing it might suggest further gains are ahead. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Yesterday's price action generated a Japanese candlestick pattern showing when "Bullish Engulfing” is detected at the bottom of a bearish trend, it is typically indicative of a trend reversal. Analysis based on the asset volatility indicates that Walt Disney's lower Bollinger Band® is at $91.65, indicating that the market is oversold and fertile for new buyers.

All in all, the technical analysis suggests Walt Disney has no clear-cut direction.

A look at other consumer discretionary stocks also showed bullish price action as Alibaba traded at $88.34 after closing yesterday's trading day at $85.34 (up 3.52%). Amazon was up 0.85%.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Retail Sales is projected to outperform its last figure with 0.8%. It previously stood at -0.6%; data will be released today at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released today at 12:30 UTC.

Furthermore, the market is looking at tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.3 million from the preceding figure of 2.95 million.

The entertainment giant is now trading 15.11% below its 3-month high of $124.96.