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
- Stocks were hit hard on Wednesday of fears of Fed’s action on inflation
- There was a big reversal on Thursday
- Elon Musk said on Friday that he had a bad feeling about the economy, pausing hiring
- Unemployment numbers were on the strong side, 390k new jobs created
- Our analysis showed this rebound was coming, there is still more room to rally but likely limited
- TSLA is likely going much lower
- This is a selling opportunity for investors
- Index and Bond Updates
- Major indexes are fractionally lower for the week
- 30-Year bond market lost 4 points
- 10-Year yields surged 21 basis points
- Gold had a small gain and silver had a small loss
- The dollar had small gains this week, likely moving down again
- Oil gained $4, wouldn’t be surprised to see $122 soon
MEMBER VIDEO PREVIEW: SHORT-TERM SWING TRADE PLANNING – FEZ
MULTIPLE TIME FRAME ANALYSIS ON AMGN – ASKSLIM CYCLE LOW TIMING TRACKER
STOCK MARKET ANALYSIS
- S&P 500 ETF (SPY)
- Negative momentum – Weekly chart
- Current rally is likely not over, could get to $403 before moving up again
- Projecting to $350 in the fall
- Getting through $430 resistance is not likely
That’s the show for this week!
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