When I'm quiet like this, I'm flipping through hundreds of charts, the intraday bounce gave me that time which is one reason I was hoping for it. I'll tell you some of the positions I'm looking at in a subsequent post, some I like a lot right here and it's just a matter of intraday charts turning back around, some need a little more longer term chart work which could happen during this period right now.
As far as MCP, the impression I get is MCP has 1-more move in it and then is likely yo pullback, I think the pullback would be enough that I'd rather try to take gains on a final move and re-enter when MCP is at a lower level with stronger charts. If you just want to hold MCP as a long term long position, which I was going to do, the daily chart will show you that MCP has a lot of forward looking potential.
1 min positive, some was used already on this move intraday
2 min positive
3 min positive so we are establishing healthy migration of the divergence.
5 min is seeing positive flow
Even the 15 min is seeing positive, but it's larger trend is overall negative or a pullback.
This is the daily chart, I think MCP is easily a long term hold, a position that can just be put to the side and not obsessed over every day. It should have plenty of room on the upside over the next several months or so.
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