Downside Pressure

UBER’s earnings were stellar; why’s the stock heading lower?

From a Wyckoff analysis perspective, the question’s not relevant.

We pay no attention to financial news, or news of any kind.

The real question, ‘What’s the market saying about itself?’

UBER, Daily

The repeating pattern, Spring-to-Up-Thrust, link here.

On a longer, monthly timeframe (not shown), there’s a massive MACD bearish divergence; telling us, opportunity favors the downside (not advice, not a recommendation).

To minimize risk as much as possible, we’re looking for price action to rise into the close, narrowing the distance between entry and stop.

The stop would be (if a trade is placed) at today’s session high (not advice, not a recommendation).

Economic Conditions.

Another interview with Ed Dowd, has surfaced, link here.

As one of the comments noted, ‘this is the best synopsis of actual market conditions presented, to-date’.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279