Hello, askSlim Community!    

The Market Week “minutes” are taken from our Free weekly Market Week shows, where 47-Year Professional Stock, Futures, and Options Trader, Cycle Analyst Pioneer, and founder of askSlim.com, Steve “Slim” Miller, reviews what transpired in the financial markets during the week and provides a technical outlook in time, price and direction. Enjoy!

If you would like to watch this week’s Market Week show from the start, you can do so below. Otherwise, you can click on underlined titles below to open video topic starting points where Slim begins his analysis:

NOTE: Click on underlined titles to open video topic starting points where Slim begins his analysis

WEEK IN REVIEW

  • Market Recap and General Outlook
    • The favorite stocks of 2023 led the indexes to the down side to start the year
    • There were multiple downgrades in AAPL on slowing iPhone sales
    • Payrolls came out Friday better than estimated and unemployment rate is still very low
    • There are probably 3 rate cuts this year starting in June
    • Predicting that the Friday rebound in the S&P 500 won’t hold into the middle of January
    • When the market does decline it should be a buying opportunity
    • There is a potential big swoon coming in the first half of 2024
  • Index and Bond Updates
    • The Dow is down around .5% for the week
    • The S&P 500 is down 1.5%
    • RUT is down over 4%
    • 30-Year bond market is down around 2 points
    • 10-Year yields is up around 18 basis points
    • Gold is down around $17
    • Silver is down 70 cents
    • The dollar is up 1%, likely to get to $103 – $104 before moving down again
    • Oil is up $2.75, has a little more on the upside

SIGN UP AS A FREE MEMBER TO WATCH SLIM’S SPECIAL REPORT ON THE MAJOR MARKETS IN 2024

FINAL WEEKEND – ASKSLIM HOLIDAY SPECIALS – GIVE THE GIFT OF ASKSLIM

TRADE IDEAS – ARVI SHARES HIS ANALYSIS IN ROKU

TRADE PLANNING WITH OPTIONS – KATIE SHOWS CYCLE ANALYSIS IN DIS & OPTIONS STRATEGIES

STOCK MARKET ANALYSIS WITH THE MARKET CONDITIONS MONITOR

STOCK MARKET ANALYSIS

  • S&P 500 (SPX)
    • Projecting a minor cycle pullback into mid-January – Weekly chart
    • Downside projection is around $4630 into mid-January – Daily chart
    • If SPX breaks $4537 it reduces changes of testing previous high – Daily chart
    • Projecting a rally into late February – early March before a bigger period of risk – Weekly chart
  • Apple (AAPL)

    • The cycle peak is in place – Weekly chart
    • Projecting a selling opportunity coming up – Weekly chart
    • The SlimRibbon turned negative
    • The ideal low is in mid-January – Daily chart
    • There should be a good shorting opportunity coming after next rally – Daily chart
    • Projecting below $173 to potentially $165 into May – Weekly chart

That’s the show for this week! 


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