The NKE short appears to be working quite well. There was an attempted test of resistance, which rallied to 110.92 and then a hard fall with the broader market. NKE closed near the low on friday and took out some mild support at 106 in the process. Last month's low held, however, if the market continues to sell off there is not a lot of support at NKE.
At this point, the indicator is still too new for me to hold my breath but, It conforms with my analysis that NKE had topped, ( as evident by the failed breakout), I wanted to be short on the next attempt because the moves is done.