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 sank last week as the bond market moved down sharply and yields jumped
- AAPL showed the third consecutive quarter that revenues declined
- Overall, 81% of earnings for the S&P 500 beat analysts projections
- The stock market is moving down in our projected short term correction
- Our work shows that there is a window of time for a rebound
- Index and Bond Updates
- Indexes are down .3% – 2% for the week
- 30-Year bond market fell 3 points
- 10-Year yields are up 13 basis points
- Gold is down $21, likely a buying opportunity
- Silver is down around 75 cents
- The dollar is up slightly for the week, doesn’t have much upside
- Oil gained $1.40 for the week
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Entering a period of risk – August through October – Weekly chart
- There will likely be a sizeable correction in the period of risk
- Momentum conditions are still strong – Weekly chart
- Market Volatility Index (VIX)
- Entering a bottoming phase – Weekly chart
- Momentum is turning up – Weekly chart
- Expecting a pullback into mid August before a move up – Daily chart
- Projecting a move to the $20 – $30
That’s the show for this week!
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