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
- Prospects of the fed tightening into a recession brought selling into tech stocks Monday
- The market firmed on Tuesday on bank stock upgrades
- Stocks exploded to the upside on Wednesday after FOMC
- The S&P 500 fell nearly 200 points on Thursday before minor recovery
- The unemployment rate came out at 3.6%, moving the bond market down again
- The market is showing signs of a short-term trend change
- Index and Bond Updates
- Indexes are slightly lower for the week
- 30-Year bond market lost 3 points
- 10-Year yields gained 22 basis points
- Silver is down around .20 for the week
- The dollar had slight gains
- Oil gained nearly $7 on the week, likely to get to $116
STOCK MARKET MULTIPLE TIME FRAME ANALYSIS
- S&P 500 (SPX)
- The rebound target is $4350 – $4420 – Weekly chart
- August-Oct is likely the significant low timing range
- Still in negative momentum – Weekly & daily charts
- $4350 – $4420 is the sell zone – Daily chart
- Rallies will likely continue to fail
That’s the show for this week!
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