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
    • In an early rally attempt in the stock market turned into hard selling by midweek
    • The fed made it clear that there will be no rate cuts in 2023
    • Interest rates moved up sharply, worldwide recession looks likely
    • The unemployment rate moved up to 3.7%
    • Risks are high that rallies will not hold up
    • The best case projection for the bear market bottom is under $3200 for the S&P 500
    • Keep selling rallies
  • Index and Bond Updates
    • Indexes are down 1.25% – 3% for the week
    • 30-Year bond market is down 3.5 points
    • 10-Year yields are up 17 basis points
    • Gold moved down $25
    • Silver is down 70 cents
    • The dollar is being helped by rising interest rates
    • Oil is likely to bottom soon

MEMBER VIDEO PREVIEW – TSLA – ARVI ILLUSTRATES A SHORT-TERM SWING TRADE SETUP

CYCLE ANALYSIS WITH OPTIONS – US STEEL – KATIE BRINGS ANALYSIS AND AN OPTIONS TRADE

FINAL 3 DAYS FOR HUGE DISCOUNTS ON MEMBERSHIPS

STOCK MARKET ANALYSIS

  • S&P 500 (SPX)
    • There is still a lot of energy to the downside – Daily chart
    • The SlimRibbon is negative
    • Expecting a bounce into an area with a lot of risk – Daily chart
    • May get to $4060 before the period of risk
    • Hard selling is projected from mid-late September – Daily chart
  • Nasdaq 100 (NDX)
    • Looking for an attempted bounce before a big decline into the end of September – Daily chart
    • Projected down to $11000 – Daily chart
    • Momentum is negative – Daily chart

That’s the show for this week! 


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