Wendy’s is still going strong, even after a monstrous breakout in 2013. I am still cautious on McDonald’s going forward, and Burger King has taken its sweet old time getting going.
However, keep an eye on Sonic, first chart below, off this recent orderly pullback to its rising 20-day moving average. The volume pattern remains constructive. Much like Wendy’s Sonic has already seen a great run in 2013. So, be sure to have a good stop-loss in place if you play.
On the second chart, below, for the S&P 500 Index keep an eye on the now-declining 10-day moving average as an initial target for this bounce and place to reevaluate.
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DENN multi year hold …worth a look