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
    • The stock market jumped to new highs last week on good inflation news and soaring tech stocks
    • The CPI came out unchanged, better than estimates
    • The Fed was less dovish, saying probably only 1 rate cut this year
    • Thursday, the PPI came out down .2%, much of the market was being sold except indexes
    • Stock market is in a period of extremes, seeing wide divergences
    • Overall, investors are selling and lowering risk
    • Market Cap/GDP is historically very high – huge risk
    • We are still cautiously positive but the risk/rewards are poor for the intermediate term
  • Index and Bond Updates
    • The S&P 500 is up 1.5% for the week
    • The NDX is up 3.5%
    • RUT is down .75%
    • The 30-Year bond market is up strongly for the week
    • 10-Year yields are down 22 basis points
    • Gold gained $35 for the week
    • The dollar moved up .7%, likely to reverse in the next 1-2 weeks
    • Oil gained around $3.30 for the week, in resistance
    • Bitcoin is down around $2600 for the week, setup for a significant decline

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

TRADE IDEAS – ARVI SHOWS A LONG SIDE TRADE IDEA IN PANW

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

STOCK MARKET ANALYSIS

  • S&P 500 (SPY)
    • No sign of a top yet, other than what we see in other indexes
    • Still configured strongly on the weekly chart
    • Getting into a tough resistance area – Weekly chart
    • Support zone is at $534 – $531, reasonable to get there by the end of June – early July – Daily chart
    • It’s a very weak overall market being disguised by a few strong stocks

That’s the show for this week! 


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