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 stock market was choppy to start the year with hawkish fed talk
- The ISM report came out weak on Tuesday indicating a recession but prices paid numbers plunged
- There was very tough talk at FOMC Minutes on Wednesday causing a choppy day
- Strong ADP numbers came out Thursday sending the indexes lower
- The unemployment rate fell to 3.5%, average hourly earnings were up less than expected
- TSLA vs other automakers analysis
- A rotation from value stocks to growth stocks may lead the stock market rebound that is starting now
- 2023 should be a better year than 2022 but not a huge bull market
- Short term analysis suggests a move up through January
- Sum of the evidence shows a significant selling opportunity is coming
- Index and Bond Updates
- Indexes are narrowly mixed for the week
- 30-Year bond market are up 4 points
- 10-Year yields fell 24 basis points
- Gold moved up $62
- Silver is down .20 on the week
- The dollar is up slightly
- Oil is down around $5.50
STOCK MARKET SHORT TERM ANALYSIS
- S&P 500 (SPY)
- The SlimRibbon is negative
- In a rising phase period that should bring a rally
- Projected to move up to $388.50 – $397 before rolling over
- The key number to get over is $387.50
That’s the show for this week!
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