Shares of McDonald’s plunged below $250 for the first time since the recession-worries autumn slump. A good occasion to think twice about thoroughly searching signs of small buying patterns, which may appear on daily charts soon. The consumer staples segment, which usually refers to a set of the essential or budget category food products, may sometimes lag behind the faster growth stocks when Wall Street indexes are setting new highs. And the S&P 500 broad barometer closed the session on July 2 above 5,500, pointing to the record rally that would rather go on in a non-stop regime. Many of my favourite stocks like Google, Amazon, Microsoft or even Netflix are confirming this conclusion. Yet, "back students" in the bullish market may feel it is also a proper time for them to take up the mind.

McDonald's has already retraced much off its peaking values, from almost $300 to below $250, with $245.73 being a lowest point of October 2023. This forms a more than 17.5% price discount for stable fast food business. The sequence of small technical patterns during a price response to the test of this key support area will become an indicator of whether it is time to buy or better wait another day or week.

The Federal Reserve has made "significant progress" in easing inflation, its chair Powell freshly commented in Sintra, Portugal, a day before, adding that US inflation is going to return to a 2% target "by late 2025 or the following year", yet he and his colleagues would "take their time" before rolling out potential interest rate cuts. No great shakes for the market bulls, but another reason to keep a "glass is half full" sentiment.