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Friday, October 21, 2011


MCD has one of the nicest looking bases I have seen lately, but like most Dow stocks, outperforms the market only when it is dropping. The price relative line has been declining while it was getting ready for this breakout, not a sign of leadership. This is sort of like entering a big rig truck in the Indy 500: while the engine is a lot bigger, the sheer size of the vehicle holds it back when the green flag drops.

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