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 tone from the fed was more hawkish than investors expected and will likely raise rates one more time
- The bond market and indexes were sold hard on the news
- Gold and other commodities fell on surging interest rates
- There is still more risk to come
- Assets of major central banks vs S&P500 chart analysis
- Rebounds are likely to come but it’s still a dangerous time frame
- When the market looks great it will be time to sell
- Index and Bond Updates
- Indexes are down 2%-3% for the week
- 30-Year bond market lost 2 points
- 10-Year yields are up 14 basis points
- Gold is mostly unchanged
- Silver is up 60 cents
- The dollar is up slightly for the week
- Oil moved up to over $91
STOCK SECTORS – A LOOK AT 12 SECTOR ETFs USING THE ASKSLIM MCI
TRADE PLANNING WITH OPTIONS – KATIE SHARES A BULLISH OPTIONS TRADE IN CRUDE OIL
LEVEL 4 TOP TIER SPECIAL TRIAL OFFER – 37% ONE TIME USE DISCOUNT
STOCK MARKET ANALYSIS WITH THE MCM – INCLUDED WITH A LEVEL 4 MEMBERSHIP
STOCK MARKET ANALYSIS
- S&P 500 (SPY)
- Still in a period of risk for several weeks – Weekly chart
- Support levels are at $429 – $419 – $410 – Weekly chart
- The next rally after the corrective period should bring a selling opportunity – Weekly chart
- The dominant cycle low is due around 10/30 – Daily chart
- The SlimRibbon is negative
- Next rally will likely fail around $439 – $445 – Daily chart
- $420 – $410 is the target into the end of October – Daily chart
- Market Volatility Index (VIX)
- Would not be surprised to see mid $20’s in October
- Likely in a rising period
That’s the show for this week!
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