On last Sunday's show we spent some time on Uber identifying the most recent high as a very important inflection point. For those that are more risk adverse, a monthly closing below 80 would be the signal to short UBER. Note the strength of the two candles coming into this high. Due to this, waiting for a signal reversal candle on a weekly or monthly basis is advisable. Today's -4% down move puts probability in our favor that the pattern will hold, but you never know. It's all probability and just a pattern.
