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
    • Earnings reports from TSLA and NFLX sent the market to the downside midweek
    • Economic data out of China showed that they will add to stimulus to their economy
    • Markets are pricing in a .25 rate increase from the fed next week
    • With the strong employment numbers it’s unlikely the fed will talk about cuts
    • There is still strong upside momentum in the stock market
    • The bullish phase is likely not over yet but may be weeks away from seeing a peak
  • Index and Bond Updates
    • The NDX is down slightly for the week
    • SPX is up just under 1%
    • The Dow is up 2%
    • RUT is up 5%
    • 30-Year bond market is up .5 points
    • 10-Year yields is unchaged
    • Gold is unchanged for the week
    • Silver lost about .30, likely to dip soon
    • The dollar gained 1.2%, likely a sell
    • Oil gained $1 for the week

MEMBER VIDEO PREVIEW – TRADE IDEAS – ARVI SHOWS A BEARISH SETUP IN USD/JPY

THE ASKSLIM FUTURES HUB OVERVIEW

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MARKET CONDITIONS MONITOR DEMO WITH STOCK MARKET ANALYSIS

STOCK MARKET ANALYSIS

  • S&P 500 (SPY)
    • Projecting a pullback from around mid August – October – Weekly chart
    • Support levels are at $438 – $427 – Weekly chart
    • Looking for a minor pullback to around $445 – $438 before another move up into mid August – Daily chart
    • Momentum conditions are strongly positive
  • CBOE Volatility Index (VIX)
    • There is an ideal low around the first to third week of August – Weekly chart
    • The ideal low timing is around the middle of August – Daily chart

That’s the show for this week! 


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