TAP, Molson Coors.

While the Feds are replenishing the punch bowls all though it is 5 a.m and all the citizens are already pretty well spaced out, our  North-American combo of Molson Coors is hitting a little rough patch, or so the charts suggest;

TAP2 2011 TAP2011

There are a number of interesting aspects to this stock. Looking at the big-chart, there is quite obviously a triangle of sorts in the (always) 4th wave position of the 30 year bull run. These triangles tend to be retraced entirely after the peak (5) is in, most often to the lowest point in this case about $21, or perhaps even one notch lower. That this has NOT happened yet, tells us that it is very likely to happen soon.

Furthermore, looking at the B wave in the more detailed chart on the right, the A-B-C structure is equally clear, with C barely getting higher than A but still maintaining that symmetry of C=A. The drop from there is quite sharp , virtually excluding the possibility of the stock regaining its composure. A wee little bounce to $46 is certainly possible from here , but otherwise the stock is a sell.