[MCD] peak watch update

Backlink.

Chart from backlink is below.



The action since the last post, minor as it might seem, weakened the model.  Even though it is not busted yet is it time to consider the likely alternatives if it does bust.   The model will almost need to gap down at the open of the next trading session if the red and still primary model is to remain alive.   I am carefully layering into a large MCD put position, 2017s and 2018s.

Keep in mind the big picture when shorting this thing.  We are clearly somewhere in the terminal wave but the madness of crowds can go on longer than anyone would think possible.  The current wave could continue all the way up to meet the 1-3 line at the blue circle so be careful about going too big too soon but know this: one  stock goes into panic/mania buying mode such as MCD has, it cannot stop or even slow down significantly without the trap door opening.  Those playing this in any size almost certainly have trailing stops in place and as they get taken out on the downside this can easily turn into a unicorn horn on the monthly chart  - a rapid spike that goes away as quickly as it arrived.  That spindly little shiv has no support built into it.  Nothing about it was hard won.  Its as if sellers have disappeared completely.  That never lasts for long in the stock markets.