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 was under steady pressure this week
- Interest rates and China economic problems weighed on the market
- Retail sales were strong in the US and the economy is still growing, still inflation risk
- A resumption of the bond bear market is likely
- Important lows for the bond marker are likely not until 2024
- If stocks fall big money will temporarily move into the bond market
- Downside pressure is significant in the stock market, selling opportunity didn’t occur
- Projecting a low in the stock market around mid – October
- There is potential for a 13% drop in the stock market
- Index and Bond Updates
- Major indexes are down 2% – 4%
- 30-Year bond market is down 1.5 points
- 10-Year yields gained 6 basis points
- Gold is down $23 for the week
- The dollar gained .5%
- Oil is down $3.30, likely to go under $76
TRADE PLANNING WITH OPTIONS – KATIE SHOWS NEGATIVE ANALYSIS IN AMD
HOT MINUTE – INVESTORS BIG LOVE MAY BE IN BIG TROUBLE – NEGATIVE ANALYSIS IN NVDA
MEMBER VIDEO PREVIEW – TRADE IDEAS – ARVI SHARES NEGATIVE ANALYSIS IN WYNN USING THE RANKINGS SYSTEM
SPECIAL DISCOUNTED TRIAL OFFERS FOR LEVEL 3 – 1 OR 3 MONTH OPTIONS
MARKET CONDITIONS MONITOR DEMO AND STOCK MARKET ANALYSIS
STOCK MARKET ANALYSIS
- MidCap 400 ETF (MDY)
- Projecting a decline into October to around $457 – $445 – Weekly chart
- In a negative condition – Weekly chart
- There is likely to be a bounce before moving to the downside again – Daily chart
- Russell 2000 Index (RUT)
- Momentum turned negative – Daily chart
- Projecting a bounce to around $1908 that fails – Daily chart
- S&P 500 (SPX)
- The cycle trough is in mid – October – Weekly chart
- Could see a decline under $4000
- Best case decline is likely around $4200 – Weekly chart
- Momentum is negative – Weekly & daily charts
- A rebound would likely go to $4400 – $4410 before turning back down – Daily chart
That’s the show for this week!
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