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
- Indexed bounced early in the week before selling resumed, SPX broke key level
- Oil surged on war news, yields hit highest levels in decades
- Earnings in Mag 7 stocks brought selling on doubts in AI ROI
- Semiconductors held a weekly gain on bargain hunting
- Major indexes had small losses for the week
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STOCK MARKET ANALYSIS
- S&P 500 Equal Weight (RSP)
- Projecting a weekly cycle trough for late August – early September
- A correction is likely a buy as we expect more upside attempts – Weekly chart
- The first downside level is at $205 – Weekly chart
- Current rebound is not likely to hold up – Daily chart
- Downside levels are at $205 – $198 – Daily chart
- The daily chart is giving an early warning of a turn down in momentum
- Nasdaq 100 Index (NDX)
- Projecting $27750 – $26850 on the downside – Weekly chart
- The SlimRibbon is negative, pointing to downside into August – Daily chart
- Weekly cycle trough projected for late August – early September
- Market Volatility Index (VIX)
- Projecting high $20’s – $30’s into August/September
That’s the show for this week!
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