Just a quick update on the Cubes (NASDAQ: QQQQ), which is showing a potential reversal formation, as marked on the chart: Point 1 shows a correction from the April highs, Point 2 shows a failed rally attempt / test of those highs, and Point 3 shows…
…a break below the lows at Point 1 and below the 50-day EMA and thus far a failure to rally back above those levels. This is a warning sign. Cheers!
PS: CROX update coming tomorrow (got to get the wedding invitations out tonight!). I will note that a 13,200 share block of CROX crossed the tape in after-hours trading at a price of $31.45 per share (at the time the bid/ask was $29.79 / $31.49). This represents a $415,140 trade on the ask side. That’s also the largest block trade I saw today and I believe my time and sales window was open all day. See below for my time and sales window filtered for blocks above 10,000 shares. Note, the window was open all day today, but not necessarily all day over all the prior days you see.
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