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
- The two week drop in the S&P 500 was over 10%
- Bitcoin fell 30% this week, target lowered to $12000
- The fed raised interest rates 75 points, stocks rallied a bit
- The S&P 500 finished down over 120 points on Thursday
- The Swiss National Bank raised rates for the first time since 2007
- The dollar has likely peaked
- Index and Bond Updates
- Major indexes are down 5%-6% for the week
- 30-Year bond market is down around 1 point
- 10-Year yields are up about 6 basis points
- Gold is down around $20 for the week
- The dollar had small gains for the week
- Oil is down $6, likely peaking
MEMBER VIDEO PREVIEW: SHORT-TERM SWING TRADE PLANNING – ALCOA (AA)
MULTIPLE TIME FRAME ANALYSIS: BITCOIN – SOURCING THE ASKSLIM ‘CYCLE LOW TIMING TRACKER
LEVEL 1 CONTENT OVERVIEW AND NEW MEMBER OFFER
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- There is room to rally
- The sell zone is around $3845 – Weekly chart
- The downside target is at $3535 – Weekly chart
- Sept-Oct nested bottom is in line with monthly cycle – likely a significant low
- The reversal scout is still pointing to the downside
- The bear market could go into April 2023
- Nasdaq 100 (NDX)
- There is a possibility for a rally that won’t last
- Likely to try to get to $11700 in a rebound, an opportunity to sell
- Projecting to $10600 on the downside
- The reversal scout is negative
That’s the show for this week!
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