Very interesting time to be watching Mcdonalds. I tried to save the chart with my support and resistance lines but it wouldn't let me so just use your imagination and draw a support line at 50 and a resistance line at 64. MCD hasn't closed above or below these lines on a weekly basis since sometime in late Sept 07. (if your observant you will see that it traded below 50 in early 2008 but on a weekly basis did not close below 50 and we all know its the close that really matters). It will be very interesting to watch how this market goes and be ready to take a position whenever Mcdonalds finally closes above or below this long time support and resistance on a weekly basis.

MCD has been trending down since early june and is fighting resistance from both the 200 an 50 day MA. MACD looks like it's improving though. I may consider the 60 september put for a short term trade.

For the last 3 months it's been trending down. This week it's price went over the 50 day sma but couldn't hold there for long closing below it yesterday on a long candle.