Preface
Headed into the new year, during the December 2023 OpEx (12/15), UBER saw an extremely exceptional dark pool transaction…

$61.86
103M shares
329% of it’s average 30 day volume
6.4 Billion Dollars

This was by far the largest dark pool transaction for any individual stock in the ENTIRE stock market that day… I’ll say that again, because It truly is insane. Out of every single stock in the market… UBER… saw the largest institutional activity.

Now, this is notable, but to truly understand how large this transaction was, let’s compare it to the largest prints in history for some of the biggest stocks in the market at that time.

AAPL : $5.1B
MSFT : $6.2B
NVDA : $6.8B
AMZN : $5B
META : $2B
GOOGL : $1.7B

UBER, a 5 year young stock, already reaching a $150B market cap, just added to the S&P500, is seeing larger institutional interest than some of the largest companies in the world. This is mind blowing to me.

Is UBER going become a mega cap one day?

UBER

The first thing to note here is the incredible accumulation patterns directly from the stock’s IPO, leading to the recent two-year rally.

+200% off the lows, prior ATH’s are retested and that’s is when we see the massive dark pool come in @ $61.86
Price surges higher, and is now retesting in a falling wedge formation for the entire year of 2024

Very clean volume patterns.
Anomaly sell-off in July. Large candle spread relative to the May accumulation, yet it has decreased volume.
Now, finally directly retesting this dark pool and forming a hammer.

The month has just began, and tons of volume (visible on the Daily) is flooding in directly off this level.
This could be the start of a large bullish candle for August.

Ever since August began, volume is increasing every day, urgently holding the monthly candle over this dark pool to begin this hammer…

What’s known as a “PEG” is forming today.
A “Power Earnings Gap”.
A pattern that typically leads to upside continuation, and in this case, it’s forming directly off an extremely large dark pool!!

Unusual Options Flow

Conclusion
I’ve been keeping this dark pool information in my back pocket, waiting all year for this. I love this setup because the risk level is extremely clear. If today’s low is lost and this dark pool is not defended, then something is clearly wrong!

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