MCD, WYNN updates 03/08

MCD: Counts best as having, or close to completing minor-4 of intermediate-iii of major-5 of Primary III. Note the picture perfect 1.618x extension of minor-1, measured from minor-2, hit for minor-3, and now minor-4 at the 100% Fib-extension. Classic Fib-behavior. Now minor-5 ideally to the 200% extension at $194ish. But, not shown here, price is still below its 200d SMA (@159ish) and I recommend for price to move and close back above it before going long.

MCD monthly


WYNN: Using the weekly chart, it counts best as now in major-5 with an ideal target of 210-215ish (5=1). The weekly candle is up 10%: wave-iii of 5 is underway. On the daily we can see how price is now firmly above all its SMAs, and how the Bollinger Bands are expanding: strength.  All TIs are on a buy/pointing up. This can be longed, if not already long, with a stop at the 50d SMA. Simple.

WYNN weeklywynn daily