Video: https://youtu.be/8U615bSILewThe bounce candle failed as the market started the day strong but ultimately not only broke off the highs, but broke down below the previous close and trended down all day finally closing near the 200 day moving average. This is the 4th bounce failure in less than 30 days, which is the sign of a very weak market. I will not make any trades until at least the 9 ema to the upside or the 200 ma to the downside break. It is best to remain patient and wait for market direction. There are a lot of ugly charts right now.I was stopped out of NFLX. Stop for UWT is moved up to near entry level $28.45-.50 to make it a break even trade or win.Focus List: TQQQ, SPXL, FAS, SOXL, LABU, BABA, NVDA, FSLRCurrent Positions: Stopped out NFLX. Still holding UWT.
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