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
- Tech and semiconductor stocks led the market to the upside this week
- Top 10 High-Caps % of market capitalization chart
- Mega-Caps extreme overbought charts
- Leading Economic Indicator vs SPX disparity chart
- These charts indicate that corrective forces will likely hit very soon and could be very sharp to the downside
- Projecting 1% potential upside vs 10% potential downside in coming months
- Index and Bond Updates
- Indexes gained around 1% for the week
- 30-Year bond market lost 2.25 points
- 10-Year yields are up 14 basis points
- Gold lost around $18
- Silver is down around 18 cents
- The dollar is likely to chop for a few weeks before a downside move
- Oil is up over $4
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Getting into a period of risk, likely to correct – Weekly chart
- The best case projection on the downside is around $4800, $4650 is more likely – Weekly chart
- Correction low timing is projected around mid March – April – Weekly chart
- Monthly chart projects a correction into spring before another move up through the summer/late year
- The risk/reward is not great to the upside
- Risks are increasing of sharp jumps in the VIX 2024-2026
That’s the show for this week!
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