MCP Follow Up

MCP is at it again.

Recently we had expected a move up, which hit +200% from low to high. On Feb 5th, MCP Update was posted, we already had positive divergences and got the exact closing candle we were looking for as it was "almost there".

On Feb 9th, MCP Update the gist of the post was,

"... it looks like it's getting ready to make another move to the upside."

Since then, that's what it has done with yesterday's MCP on the Radar and +7.79% gain.

Thus far this morning MCP is at a 10.84% gain and about 15% higher since the highs of 2/3 when we were looking for a pullback/consolidation to commence, this is about 225% off the 1/23 lows.

Here's what we have thus far...

 MCP's Daily chart starting the next leg up.

I'd feel a lot better if/when MCP breaks the psychological barrier of $1.00

This is the positive divegrence through MCP's consolidation we had been tracking and once we got the bullish hammer on Feb 5th, it looked like the lows of the consolidation were in.

My only concern right now is the 5 min chart which also shows the positive divergence, but it is not leading, which may simply be because MCP is moving too fast for 3C to catch up that quickly, but I either want to see the 5 min chart lead as I drew in with a blue arrow or MCP break above $1.00, where it will trigger orders.

Our Daily X-Over Screen has given a long signal, typically the first pullback after a new long signal is to the yellow 10-day moving average with subsequent pullbacks being deeper to the blue 22 bar moving average.

As for the wider daily Trend Channel, the current stop on a CLOSING basis is $.660, but this should move up pretty quick and lock in additional gains so I may update this later today.

The tighter 60 min Trend Channel which has been tracking the momentum moves specifically...

has a current stop at $.80, but it too will continue to lock in gains.

It would also be helpful if we could clear intraday resistance at $.96 , but $1.00 is much more of a mass psychological level and would mean a lot more to MCP's continued gains.

Best of luck to all in this one. I'll do my best to keep you updated.