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 tech stocks led the way on the upside early in the week
    • BBBY moved over $30 as speculators poured in
    • Stocks began to move to the downside on Wednesday
    • UK annual change in CPI chart
    • Inflation is not going away
    • FOMC Minutes came out and said they want to keep rates going up at a slower pace
    • Rates will likely stay high for awhile
    • Housing starts are down over 25% since January
    • Wilshire 5000 to GDP Ratio chart
    • Massive overvaluation still exists in the market
  • Index and Bond Updates
    • Indexes are down 1%-2% for the week
    • 30-Year bond market moved down over 2 points
    • 10-Year yields are up 12 basis points
    • Gold moved down over 50 points
    • Silver is down 85 cents
    • The dollar moved up over $1.08
    • Oil is down around $1 for the week

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STOCK MARKET ANALYSIS

  • Euro Stoxx 50 (FEZ)
    • About to break bear flag and get into a correction – Weekly chart
    • Likely to break previous low or as low as $30 around October/November – Weekly chart
  • iShares Large Cap China ETF (FXI)
    • Likely to keep moving down into October/November – Weekly chart
    • Momentum is negative – Weekly chart
    • Projected to $24 – $22
  • S&P 500 ETF (SPY)
    • Projected to around $400 on the downside before another rally – Weekly chart
    • The bear market will continue well into 2023

That’s the show for this week! 


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