MCP Alert

I think it may be time to take some or all of MCP off the table for now.

 On a daily chart, the last few daily closing candles have had high upper wicks, meaining higher prices have been rejected/resistance and on volume which is usually indicative of churning which is often seen at a reversal, I'm not getting in to what type of reversal, whether a pullback or something else and I'd love to see MCP move much higher and it may, I just don't like the probabilities here and would prefer to sit back and see what happens and then decide whether to get back in after this move of +270% off the 1/23 lows.

The 2 min intraday chart is showing a recent negative divegrence forming, it's more of a timing divergence, it's not screaming, but it's there and others are there.

This is the 3 min chart from positive to leading negative.

As well as the 5 min chart with the exact same signals.

 The 30 min chart looks like there's a lot more gas in the tank, but also that a pullback is likely here, at least a pullback.

And the same holds true for the 60 min chart. After a nearly 300% move, it wouldn't be surprising.

The Daily Trend Channel stop is at $.70, the 60 min which has held two of these momentum moves is at $1.00 even right now.

Personally, I don't think the risk is worth it right now.