Last week, even before the earnings report, we noted that Foot Locker (FL) was trading in a range but with prevailing bearish bias. Indeed price broke the range to the downside. The catalyst was a bad Q2 earnings report.FL is starting this week with the same tone, in a sharp sell-off.Foot Locker (FL) Daily Chart(click to enlarge)Collapse:- From a height around 80 at the end of 2016, Foot Locker has lost more than 60% of its value, and is likely to continue falling, though there is support support level coming up soon.- The 30-31.30 area is going to be another support area, and might stall FL's downfall. - This is simply another retailer feeling the reverberation of Amazon's competitive threat and makes FL a very unattractive stock to own. One that traders might consider short-selling especially on a rally. - For example, at this point, bullish outlook should be limited to 45. So, if price does rally to let's say 41, we should start anticipating a subsequent sell-off.