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 continued its upward surge this week
    • It’s certain that there will be a correction
    • The FOMC confirmed there will be 3 rate cuts this year bringing buyers in
    • Indexes are still showing positive formations and momentum
    • Still expecting a correction into Spring and highs late in the year
  • Index and Bond Updates
    • Indexes gained between 2% – 2.5% for the week
    • 30-year bond market is up 1 point
    • 10-year yields are down 9 basis points
    • Gold is up around $16 for the week, higher prices to come
    • Silver is down around 40 cents
    • The dollar is up around .8% for the week
    • Oil is mostly unchanged for the week

TRADE PLANNING WITH THE ASKSLIM TEAM – ANALYSIS IN BABA, ABNB & PEP

THE ASKSLIM DAYTRADER SERVICE 2.0 WALTHROUGH AND SPECIAL OFFER

ASKSLIM LIVE Q&A

STOCK MARKET ANALYSIS

  • S&P 500 (SPX)
    • The corrective phase is projected to be 5.5% – 12%, with minimal time to decline
    • Need to see the daily cycle momentum turn negative to get a correction
    • The ideal trough is around the first or second week of May – Weekly chart
    • A break below $5104 would see momentum deteriorate – Daily chart
  • Nasdaq (NDX)
    • Looking for a peak and then move down into May to around $16800 – Weekly chart
    • Conditions and momentum are still positive
  • Russell 2000 Index (RUT)
    • Projected to move above $2200 later in the year – Weekly chart
    • Looking for a decline with a period of risk into June – Weekly chart
    • A break below $2040 would suggest the intermediate pattern peaked – Daily chart
  • Market Volatility Index (VIX)
    • Weekly and daily cycle bottoms are getting ready to be formed
    • Likely to get a large upward spike soon which will bring correction in the stock market

That’s the show for this week! 


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