With red Monkey coming in and putting the markets into red yesterday, most indices have dropped 2-6% in one night. We can expect Hong Kong and Singapore Market to follow suit at around this range when they open up tomorrow.

How about our NYSE:MCD that I have been so confident about?

Bad news: It has breached our trend low (or also known as our trend support)

Good news: It rose 2 points yesterday

Unfortunately in my view based on my trading rules, McDonald’s Corporation stock has met its reversal in the weekly chart. Reasons being number 1, it has broken the up-trend line support in last week’s blow which itself tells you the uptrend has weakened. Number 2, last week’s bar closed as a bearish engulfing pattern which means that there are many more sellers compared to buyers. Number 3, it opened below $113 which is our past 10 weeks low, showing lack of demand ...