In the red square you can see the false breakout, in yellow the break of support and a test that failed.
This is a major component of the Dow and doesn't bode well for the market.
Monday, December 27, 2010
Bellwether Breaking Down-MCD
Dow Bellwether, MCD is breaking down badly.
The daily 3C chart above shows confirmation of the uptrend at the green arrow, then a negative divergence at the red arrow and especially at the false breakout. Right now 3C is in a leading negative divergence.
In the red square you can see the false breakout, in yellow the break of support and a test that failed.
This is a major component of the Dow and doesn't bode well for the market.
In the red square you can see the false breakout, in yellow the break of support and a test that failed.
This is a major component of the Dow and doesn't bode well for the market.
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