Friday, November 13, 2015

[MCD] update

In the backlink I called a top on the shares but the herd decided differently.  The higher high that it put in, however, does not annul the fact that the current wave is very likely to be a 5th because it follows an HT.   Maybe today's selling was only 4 of 5 with one more slightly higher high to come early next week, $116 perhaps, but then I see the minimum sell off to be down to $80 (the 38.2 fib of that projected peak) and likely a good deal lower just like WMT.  They have the same problem you know.  Deflation made their input costs lower while nobody was getting any raises.  But now the cries to share the prosperity with the workers are spiraling up and MCD labor is a very big expense.

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