MCP Follow Up

The MCP September $6 call is in the green and so long as we don't form a double bottom (which I think would be too large of a base/too large of a bounce), MCP has a beautiful bottom in place and divergences that show it did pick up strength (like XOM) around the 15th/16th of late last week when bounce signals first started coming in, but the strength of MCP signals show it is clearly a stock that can stand on its own two feet rather than just drafting the market.

 Intraday 1 min perfectly in line in the rounding base.

2 min trend picks up strength almost the same time as nearly every other asset, starting around 8/15 or 8/16 with a nice rounding base and leading positive divergence, this is the clean kind of chart I really like.

 Like many of the stronger assets, the 15 min chart is leading positive, but unlike most that stop at the 15 min chart...

The 30 min is leading positive

And even the 60 min is leading positive.

Usually I'd have taken the gains from GOOG and MCP and been on to something else, but these just look like there's so much more upside potential that we haven't even begun to realize, especially for MCP in particular.