Last week was an absolute first …

Not in a bad way per se, but I cannot recall anything quite like it before …

The previous week there were bullish setups a-plenty, and virtually none of them broke out.
And then last week everything flipped and there were bearish setups a-plenty … and virtually none of them broke out either.

Now, of course rounded tops and bottoms are commonplace – that’s why our EDGE Trade Plan is so valuable. No breakout, no losses.

But this was different because it was almost like the market was producing clusters of these decent-looking setups, one week bullish and the following week bearish.

Two weeks ago my headline was “Patchy But Still Bullish” and last week it was “Patchy and Still Patchy In The Short Term”.

I guess we can call that a draw … or maybe even a marginal win on points?! Because what I meant by “patchy” was “flaky”, and flaky would have been a better word.

See below for Market Outlook.

Market Outlook:

Watch the video for more detail.

Last week I said:

In the very short term I would say further downside is likely but not for long. That means some sort of support in the next few days, and possibly a hard rebound.

The rebound came on a crazy Wednesday where for several hours it looked like the market was going to tank, and instead it completely reversed back up!

So, what next?

Continued volatility, with probable upside.
As mentioned last week, protect your profits quickly.

Our market timing continues to be outstanding. Being good at market timing enables you to swim WITH the tide at the right time.

The Main Indices:

All the main four indices rebounded up through their 50-dma’s and finished at or near their week highs.

Stock Selection:

This week I focused on OVI combinations with consolidations, Shrinking Retracements, and the Key Levels. I also played with the new filters I’ll be releasing soon for VIPs.

Pick your playbook and stick to the best quality setups that conform to it.

My playbook is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are highly desirable but those four are essential to ME!

Video Length: 00:53:21

More By This Author:

Four Stocks To Watch This Week - Monday, Sept 9
Patchy And Still Patchy In The Short Term
Four Stocks To Watch - Monday, September 02