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

SHOW INTRODUCTION

WEEK IN REVIEW

  • Market Recap and General Outlook
    • The stock market overcame a big drop Tuesday after the CPI came out hotter than expected
    • The fed said there is no hurry to cut rates
    • Buyers came in Wednesday and Thursday despite softness in tech and AI
    • The PPI came out hot on Friday, reversing an upward move in the stock market
    • This is going to be a tough area for the stock market, at big resistance and very high valuations
    • NDX vs NDX Breadth chart analysis
  • Index and Bond Updates
    • Indexes are mixed, NDX is down around 2%, RUT is up 1%-2%
    • 30-Year bond are down 1.75 points
    • 10-Year yields are up around 12 basis points
    • Gold is down $19
    • Silver is up 57 cents
    • The dollar
    • Oil is up around 90 cents for the week, target is around $70

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STOCK MARKET ANALYSIS WITH THE MARKET CONDITIONS MONITOR

STOCK MARKET ANALYSIS

  • S&P 500 (SPX)
    • Projecting a move down to around $4671 – $4582 in the next couple of weeks – Weekly chart
    • Momentum on the reversal scout is still strong – Weekly chart
    • A break of $4920.21 would suggest an intermediate correction has started – Daily chart
    • Resistances will likely start to matter and we see upward movement that fails

That’s the show for this week! 


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