Just a quick post to point out the distribution day and engulfing candle we posted on Friday. Also notable is the following: (1) this nasty reversal day came shortly after the Cubes scaled the $42 resistance level, and (2) it came before Cubes could post any high volume up days. What’s it mean? The air is thin above $42 right now. Click the continuation of this post to see the 10-day hourly chart and my comments on it.
This chart is just to show: (1) the highest volume of the rally on this hourly chart came on the breaking of the 20-bar EMA, which the Cubes failed to close back above by the end of the day, which forced the 20-bar EMA to stand down. Cheers!
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