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 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 stock market made a good rally attempt early in the week before fed comments
- Netflix lost about a 1/3 of its value after reporting first ever subscriber loss
- TSLA beat earnings and the market responded by moving up early Thursday
- Powell said the fed will be aggressive on inflation, looking at 2%
- S&P 500 fell to a 75 point loss Thursday
- ARK Innovation ETF chart analysis
- Fed funds and bear markets analysis
- A recession is likely to come
- Index and Bond Updates
- The S&P 500 is down over 1% for the week
- The Nasdaq is down 2.5%
- 30-Year bond market is down .25 points
- 10-Year yields are trading around 2.9%
- Gold is down over $30
- Silver is down $1.50
- The dollar is up about .6%, likely to get over $102
- Oil lost close to $4 on the week
STOCK MARKET MULTIPLE TIME-FRAME ANALYSIS
- S&P 500 (SPX)
- If it moves below $4261 it will decrease the possibility of previous cycle high
- Patterns suggest a decline to bottoming phase around May 3 -10 – Daily chart
- The SlimRibbon is negative
- Projected to decline into May before a rally into June where then the bigger risks pick up – Weekly chart
That’s the show for this week!
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