MCD: - earnings report on Monday
weekly: Momentum indicator ticked lower while prices went higher (short covering). Also, the indicator is showing a reverse divergence; Higher low in price, lower low in momentum. This down channel is pretty tight and steep, and easy to break out from.
OXY - earnings on Wednesday. No one's selling and price sits at the highs. However, good earnings do not equate to higher prices. OXY in particular has seen 11-weeks of 18+% price increase with very little price discovery in between
Some observations I find interesting:
The QQQQ has a reverse divergence (so long as it doesn't take out $54)
FCX reverse divergence as well
APA-weekly gap fill overhead
Chugging right along is the OIH where it is approaching this Oct '08 gap. These resistance levels are a process, so we can either expect immediate rejection and testing lower, or basing behavior that builds value at this level over a number of weeks/months.
The trend here is solidly up. The 3/10 MACD slow line has been bullish since September, while each momentum thrust up has been impressively strong. One potential downside observation would be that the 3/10 slow line is working it's way closer to the zero-line.