S&P 500 Sep 02 to Sep 06 Outlook

Recap
Nailed the whiplash behaviour again. ES has to drop to almost Y-2 before support was found. ES bounced back up to its current midpoint and failed to clear the resistance. Dropped back down to Y-2 by end of the week. Closed the week near week low and below Y-1.

Outlook
Outside down week is bearish. The bear hook formation from the week before gave us a great trading week last week but this week will be very confusing.

Non-farm payroll week is bullish in general but ES chart is in breakdown mode.

To enable the NFP bias, aside from a week that drift up all week, it is also possible to gap down sharply on weekly basis and wasting all week to pop back up.

Definitely not a week to pick bottom until B-1 is acting as support.