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
    • NVDA beat earnings and guidance was very strong lifting the market before a downside reversal
    • The S&P 500 ended down 50 points on the day Thursday, a correction that was due
    • The market is trying to recover on Friday
    • All cycle patterns and indicators are still positive in the stock market
    • Commodity prices are likely to keep the fed from cutting rates
    • Still likely to see higher prices in the indexes but upside is limited
  • Index and Bond Updates
    • The NDX is up slightly for the week
    • Other indexes are up 1% – 2%
    • 30-Year bond market lost around .75 points
    • 10-Year yields are up 7 basis points
    • Gold is down around $80 for the week
    • The dollar had a small gain for the week
    • Oil lost $2 for the week

TRADE IDEA – ARVI SHARES A SHORT-TERM SHORT TRADE IDEA IN FCX

TRADE PLANNING WITH OPTIONS – KATIE SHARES A BULLISH TRADE IDEA IN AMZN

STOCK SECTORS – GSG INTERMEDIATE AND LONG TERM ANALYSIS

LEVEL 4 ONE MONTH TRIAL SPECIAL OFFER – 37% OFF NON RECURRING MEMBERSHIP

STOCK MARKET ANALYSIS

  • S&P 500 (SPY)
    • Momentum is moving to the upside – Weekly chart
    • Upside projections are at $540 – $554 into the summer – Weekly chart
    • Still in a bullish condition – Weekly chart
    • Projecting a riskier period in Q4 2024
    • The SlimRibbon is positive
    • May see 1-2 down days to establish a low before heading back up – Daily chart

That’s the show for this week! 


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