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 soared on softening inflation and anticipation that Fed tightening is coming to an end
- The big decline in the Dollar could send commodities up sharply
- The Fed is still not likely to cut rates for a long time
- The Buffett Indicator chart analysis
- The sum of the evidence of our technical indicators says the stock market upside is not done yet
- Investors remain positive but the risk/reward ratio is negative
- Index and Bond Updates
- Indexes are up between 3% – 5% for the week
- 30-Year bond market are up 3.5 points
- 10-Year yields are down 22 basis points
- Gold moved up $33
- Silver is up 11% for the week
- The Dollar is down over 2%
- Oil is up $2.70 on the week
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Still in a rising phase – Weekly chart
- Period of risk starts in mid August – October – Weekly chart
- If it can get through current area, the next target is at $4592 – $4670 – Weekly chart
- There may be a dip that would be a buying opportunity – Daily chart
- Upward momentum is still positive
That’s the show for this week!
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