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
- We believe the indexes are on the precipice of a steep cliff
- The CPI came out up .5%, and year over year was higher than estimates
- The PPI was up .7% and up over 6% year over year
- The fed came out hawkish, suggested more rate hikes are needed for disinflation
- Indexes are testing key support levels
- The downside phase will likely last from mid March to early April
- Index and Bond Updates
- Stocks are mixed to down slightly for the week
- 30-Year bond market is down around 1.75 points
- 10-Year yields moved up 13 basis points
- Gold is down around $36 into our support/buy zone but there is still more risk to the downside
- Silver is down close to .60
- The dollar is up .6%
- Oil is down around $4 for the week
MEMBER VIDEO PREVIEW – FUTURESPEAK – ARVI SHOWS GOLD ANALYSIS
INTRODUCING THE ASKSLIM MARKET CONDITION MONITOR (MCM) – INCLUDED WITH LEVEL 4 FOR A LIMITED TIME
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Left-hand translations in bonds, euro/usd and gold correlated to negative translation in stock market point to trough around mid-March
- Broke below cycle low support – Daily chart
- The decline could be to $3925 – $3840
- The market would need to rally above $4160 to fix current condition
- The market has gone from buyers to sellers
That’s the show for this week!
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