The start of the "W" formation is showing in the short term hourly graph with shows bullish development. Furthermore, Stochastic is showing that MCO is oversold which is a bullish development. I have based my ideas on a previous moon and resistance within that moon as I feel Mco market is very bullish. I have marked 4 stages of the previous moon and corresponded the price with this upward trend. As you can see the first 2 stages are showing corrections but are quickly broken to next stage. If this is correct and the short-term analysis is correct we should see MCO at 11.7 shortly where the next consolidation begins.