Stock Market Analysis – 01-24-2012

January 24, 2012 · Filed Under Broader Market · Comments Off on Stock Market Analysis – 01-24-2012 

S&P 500 Weekly Chart

Although it’s been a while since my last post, the market has been chugging along without me.  I’ve been sitting on a lot of positions for an extended period, but it looks like I may need to start making some adjustments to my current holdings — yeah, I’m looking at you MCD.  Earnings have generally been good so far, but I’m really interested in AMZN later on this week.  I’ll go through my watchlist to quantify some of my changes in the near future, but the market is overbought now anyway, so most plays are going to be waiting on pullbacks.  As bad as the global economy still looks, I wouldn’t go against the current uptrend anytime soon.

McDonalds (MCD)–02-28-2011

February 28, 2011 · Filed Under Bearish, Swing Trades · 2 Comments 

MCD Daily Chart

I don’t necessarily love or hate McDonalds, but the chart is nice.  A gap down that’s served as resistance a couple times gives some potential both ways.  If it breaks up over $76, maybe the weak January will start looking like a sloppy double bottom.  If $76 proves to be a ceiling, there’s some nice downside to play.