Video: https://youtu.be/J_rl5ss3bDwAfter a big run from the 200 day moving average to the 50ma breakout, SPY has spent most of the week consolidating just above the 9ema. This is exactly what we want to see before the next run and test of highs. Price action is looking good, however the one issue is the negative volume pattern. We still continue to see more volume on down days than up days. For this reason I am not looking to add more trades after already building to 4 positions. At the top of the watchlist are UWT, ERX, FB, SFLY, URBN, AAOI, TQQQ and biotech etf LABU.The plan is to show patience and let the consolidation range break before adding new entries.Today's in play: M, KSS, URBN, OLED, LABU, X, UWT, FB, UA, SOXL, AAPL, SFLYFocus List: FB, AMZN, GOOGL, NVDA, TSLA, WTW, GWPH, SFLY, UA, SHAK, FCX, X, TQQQ, SPXL, TWTR, ERX, UWT, OLED, SQ, BABA, YELP, AAOI, M, KSS, URBN, OLED, LABU, X, ROKUCurrent Positions: Still holding AAXN, X, NFLX and LULU.
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