Friday, July 15, 2011

MCD follow Up

In my 9:45 post on MCD this morning  was looking for a brief bounce and then a break of the flag support, both happened.

 Daily of MCD back in the flag-a possible false breakout yesterday.

 There's a slight 1 min positive divergence so we may see a little upside.
I would consider MCD as a Swing Short right here, I'd probably fill half a position and the other half on any strength and put a stop above yesterday's high of $86.46.

Failed moves tend to fall pretty fast.

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