Unfortunately my normal Weekly Digest file has been corrupted and will take the weekend to rebuild. So now we offer the trimmed down Weekly Digest report. S&P, Dow, and Nasdaq are all down for the week but were able to all bounce back only losing little overall ground. The markets faced strong selling on Monday followed by consolidation and finally a solid bounce on Friday. Markets had trouble holding their 50 day moving average but were able to reclaim it today. So far we are still chopping around but have moved it from an intraday chop to a daily chop which is tradable. We've already started seeing breakouts and bounce plays working again, so hopefully that trend will continue into next week. With daily chop you just need to be careful with holding to long into the next day which is better than worrying about holding for only the next hour.
Here's the rest of the Weekly Digest.