MCP Follow Up

After yesterday's 13+% move, today looks like a bit of consolidation. I don't see anything serious here to be concerned about. Here are a few charts.

 MCP's near term rounding base pointed out, although no "Chimney" or head fake. MCP still hasn't broken out of this area which is right below a clear support region that would be an excellent stop run which is what I suspect this was.

On the 60 min X-Over you can see the last confirmed signal before our most recent buy, it was a sell/short and it had its first bounce through the 22 bar which is unusual. After the 3 confirmed long/buy signals in MCP (white) the first pullback is the more common pullback to the 10-bar moving average, with subsequent pullbacks deeper to the 22-bar (blue).

So thus far nothing that strange after a 13% gain and a Friday, a consolidation here makes perfect sense and that's what it's acting like.

Longer term on this daily Money Stream chart, I still think there's something bigger going on in MCP beyond short term funding or a high short interest making a short squeeze a possibility that would have an enormous upside move.

 Te 5 min chart didn't see any damage today .

And the intraday 2 min

As well as 3 min charts are nearly perfectly in line, not divergent so again, I suspect this is a consolidation of some of yesterday's move and expect more upside next week.