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
- Pandemic stocks are down 70%-90%
- AAPL has dropped 23%, no longer the most valuable company in the world
- Upside attempts have been met with huge selling
- The CPI came out higher than expected
- Crypto stablecoin Terra dropped 86%, sending crypto down in a big way
- The dollar continues to be the safe haven
- Markets started to stabilize on Friday
- Our new analysis suggests coming upside is more limited than expected
- Index and Bond Updates
- Major indexes are down around 3% for the week
- 30-Year bond market are up about 3 points
- 10-Year yields are down about 22 basis points
- Gold lost around $70
- Silver is down .44
- Bitcoin is down around $6000 for the week, $18000 is projected
- The dollar is still strong, up .9%
- Oil is down around $1 for the week
STOCK MARKET SHORT-TERM ANALYSIS
- S&P 500 (SPX)
- A rally will not likely have a ton of upside
- There is a period of increased risk in early June
- Momentum is negative – Daily chart
- The SlimRibbon_PO is giving negative signals
- Upside targets for a rebound are $4030 – $4166 into the third week of May
That’s the show for this week!
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