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
    • The stock market was soft early in the week but changed after the CPI month over month came out down .5%
    • We think the US Dollar will move up to the $108-$109 area
    • This is still a bear market rally and likely to be the final hook
    • The NDX and RUT are weaker than the S&P 500
  • Index and Bond Updates
    • The major indexes are up slightly for the week
    • 30-Year bond market are down .75 points
    • 10-Year yields are mostly unchanged
    • Gold is up $18
    • Silver is up 46 cents
    • The dollar is down .8%
    • Oil rebounded $3, upside target is over $103

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STOCK MARKET ANALYSIS

  • S&P 500 (SPX)
    • The SlimRibbon is still positive – Daily chart
    • Upside peak is likely towards the end of August – Daily chart
    • Rally should continue, unlikely to get through $4363 – Daily chart
    • Cycle low support is at $4112.09 – Daily chart
  • Nasdaq (NDX)
    • Cycle low support is at $12945.60 – Daily chart
    • The SlimRibbon is still positive – Daily chart
    • Likely to continue on the upside into mid to late August

That’s the show for this week! 


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