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
- There is a short term tone change in the stock market
- Commodities collapsed before rebounding a bit
- On Thursday China talked about bringing big stimulus into the market
- The markets stalled Friday on strong payroll markets and the news that Abe had been assassinated
- We are anticipating poor guidance and weak margins on earnings
- Interest rates will likely continue to move up for a long period of time
- The current rebound may be cut off pretty soon
- Index and Bond Updates
- The S&P 500 is up close to 2% for the week
- The Nasdaq is up 4%
- 30-Year bond market is down 2.5 points
- 10-Year yields moved up 20 basis points
- Gold fell as far as $75
- The dollar is up 1.75%
- Oil is down $3.50, downside target is $93
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Resistance is around $3900 – $4050 – Daily chart
- The SlimRibbon_PO turned neutral from negative
- The sum of the evidence suggests the market will fail again
- There is a significant period of risk later in July
- The fourth quarter of the year will likely be more positive for the stock market
That’s the show for this week!
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