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 fed said that rates are likely to go higher for longer bringing volatility to the market
- The S&P 500 ended up 52 points on Tuesday but was under pressure the rest of the week
- The downside continued on Friday as foreign markets were weak
- Our analysis showed that downside risk would pick up in February – April
- The window is opening for a failed upside attempt, a chance to lighten up your long side risk
- Index and Bond Updates
- The Dow is down .5% for the week
- The S&P 500 is down around 1%
- RUT is down around 3.5%
- 30-Year bond market is down 3 points
- 10-Year yields are up 18 basis points
- Gold and silver had small losses on the week, likely to have a buying opportunity soon
- The dollar is .3%, likely more to come on the upside
- Oil is up around $6 for the week
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- The ideal low is late February – early April suggesting a selloff – Weekly chart
- Short-term analysis suggests another rally before corrective period takes hold
- The highest probability on the upside is around $4230 – $4240 before a turn down to around $3900
- Projecting a couple weeks on the upside for the stock market
That’s the show for this week!
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