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 tried to rally several times but news reminded investors that they better be selling
- The CPI was in line but 4.7% core rate year over year brought some fear into investors
- There was more hawkish talk from the Fed on Friday
- Our analysis showed a peak around the second/third week of August
- The stock market is weaker than we anticipated
- The VIX appears to have already bottomed
- VIX weekly chart analysis
- A rebound is likely still coming in the next week but may be more shallow than expected
- The August-October period of risk has probably already started
- Index and Bond Updates
- Indexes were mixed for the week
- 30-Year bond market moved down around .75 points
- 10-Year yields moved up 10 basis points
- Gold is down around $27
- Silver moved down 85 cents
- The dollar gained .6%, in a resistance area
- Oil gained 68 cents, the 7th week in a row on the upside
MEMBER VIDEO PREVIEW – TRADE IDEAS – ARVI SHARES NEGATIVE ANALYSIS IN SMH
SPECIAL DISCOUNTED TRIAL OFFERS FOR LEVEL 3
STOCK MARKET ANALYSIS
- Nasdaq (NDX)
- Getting into a corrective period – Weekly chart
- Likely to be a declining market through September
- Downside projection is $14300 – $13800 in October
- Apple (AAPL)
- Momentum turned down – Weekly chart
- Downside target is $171 – $165 in early October
- Microsoft (MSFT)
- Momentum turned down – Weekly chart
- Likely to be some attempted upside moves that fail into October
- NVIDIA (NVDA)
- Momentum turned down – Weekly chart
- Likely to decline into October
- S&P 500 (SPX)
- Just getting into a period of risk – Weekly chart
- Minor attempts to the upside are likely
- Short term momentum indicators have turned to the downside
- Downside targets are $4300 – $4200 into early October
That’s the show for this week!
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