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
  • NVDA had great earnings numbers but moved lower as it gave up a 30 point gain
  • The S&P 500 went from over 40 points up to finish down around 60 points on Thursday
  • New home sales are down to the lowest point since 2010
  • Several retail stocks cratered this week
  • There is over $1 trillion in consumer credit card debt
  • The XLK retail ETF is likely to move down through September
  • Upside moves will likely fail in the stock market
  • Risks are high that this correction still has more to go
• Index and Bond Updates
  • Indexes are mixed for the week
  • 30-Year bond market is unchanged for the week
  • 10-Year yields are up around 2 basis points
  • Gold gained $15
  • Silver is up $1.15
  • The dollar continued to be strong, $114.60 is the key level
  • Oil lost around 95 cents

TRADE PLANNING WITH OPTIONS – KATIE SHOWS SHORT TERM NEGATIVE ANALYSIS IN LIGHT CRUDE

HOT MINUTE – UPDATE ON NVDA

SPECIAL DISCOUNTED TRIAL OFFERS FOR LEVEL 3 – 1 OR 3 MONTH OPTIONS – 3 DAYS LEFT

ASKSLIM FUTURES HUB DEMO AND STOCK MARKET ANALYSIS

STOCK MARKET ANALYSIS

• S&P 500 (SPX)
  • In a rising phase – Daily chart
  • May try for another rebound next week – Daily chart
  • The cycle breakdown level is at $4335.31 – Daily chart
  • Downside targets for September are at $4200 – $4120
  • Possible low in October is below $4000
  • Momentum is negative – Daily chart
• Semiconductor ETF (SMH)
  • $143.35 is the key level on the downside – Daily chart
  • Cycle analysis with indexes suggests a decline into mid-October – Weekly chart
  • Likely to get to $135 or lower

That’s the show for this week! 

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