Tuesday, October 2, 2012

MCP-Too many charts, not enough time

I'll be opening a small long equity MCP position here. There are too many charts to post with the time left in the day, but this is the gist of it (remember to see yesterday's MCP update).

 Yesterday's update explains the different things that have been happening in this area, basically positive and it's held the support level.

 The slight break of support this morning triggered stops and MCP has been lateral most of the day which is where we often see accumulation in a scenario like this.

There are a lot of positive charts, but I have limited time, the 5 min shows the positive divergence at the break of support this morning and a leading positive divergence since in the range.


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