AIG and LOCK are two long ideas on further strength, seen on their daily timeframes on the first two charts, below. I view AIG as having a $49 upside trigger for a secondary breakout, and LOCK a $12.40 one.
On the other side of the tape, McDonald’s could not hold its pre-market bounce off same store sales data. The chart continues to look vulnerable on all timeframes after a great run the past decade.
Finally, if crude oil closes near the lows of the session then this USO ETF daily chart looks to be confirming a double-top. Any way you slice it, the action in crude has been quite sloppy of late, and we know the long trade there is very crowded.
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