MCP Follow Up

It looked like something was going on in MCP and again, it's not time for victory laps, but we do have some encouraging price action.

 While some of the longer term 3C charts in this post have a current price stuck at $11.39, I just confirmed price at 11.73 so on those charts there's just a temporary glitch as to price.

 I updated MCP twice in a short period of time because the charts were moving fast, now we see price is moving, up about 3% earlier and over 2% right now. I'm certainly expecting more than 3% based on the charts, but it's an interesting start and follow up to the very fast positive divergences in 3C.

 The 1 min chart is an excellent intraday timeframe, for day trading this would be my choice. While we have a hige leading positive divergence, 3C was also VERY clear about calling intraday action.

 Here we have confirmation intraday, another positive divergence and as MCP reached the 3+% highs, 3C shows some profit taking or some kind of very short term distribution intraday-this has nothing to do with the longer term outlook the trade was opened on.

 As you see the 1 min negative divergence intraday wasn't even strong enough to effect the 2 min chart, which is even more positive than the last update.

 As is the 3 min chart.

 Now the more important 5 min chart is hitting a new leading positive high.

Ultimately the 15 min+ charts are where we see signals that really mean something, this leading positive 15 min chart is encouraging. I'm not willing to say that MCP won't pullback and perhaps create a larger base, but it does look like there was a lot of institutional/underlying activity in MCP very quickly today.