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
- Indexes continued to surge until Friday, shaken by interest rate jump
- Breadth remains extremely narrow with concentration huge
- Iran may be using blockades as an economic weapon
- Oil continues strong, still over $100, markets are disappointed in Trump/Xi summit
- Bonds were slammed, shaking up risk assets Friday
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STOCK MARKET ANALYSIS WITH THE ASKSLIM MARKET CONDITION MONITOR PRO
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Getting a pullback but conditions are still positive – Weekly chart
- If we get a correction, support is at around $7050 – Weekly chart
- Corrective period may only have a couple days left before an upside move and a top – Daily chart
- Watch the 2-hr chart to see SlimRibbon_PO turn over to blue
- Momentum is still pushing to the upside
- 20-Year Bonds (TLT)
- Big decline is shaking up risk assets
- Significantly broken under support level – Daily chart
- Expecting a cycle bottom in Mid June – early July – Daily chart
- Signaling interest rates are likely to move up into June
- S.Korea ETF (EWY)
- Movement suggest interest rates are likely to move up
- Market Volatility Index (VIX)
- Entering a period of higher implied volatility – Weekly chart
- Could see $30’s – $40’s in June
That’s the show for this week!
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