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 stock market chopped wildly this week
- The negative sentiment of investors and traders brought buyers in
- Consumer Price Index Year/Year chart Analysis
- Unemployment is at 3.6%
- A big break in the dollar brought buyers into the stock market
- Slimulator Momentum Tracker Overview
- Projecting below $3636 in the S&P 500, maybe 10%-15% lower
- Index and Bond Updates
- Stocks gained over 3% this week
- 30-Year bond market lost 1 point
- 10-Year yields are up around 8 basis points
- Gold had a small rebound up around $5
- Silver moved up .70
- The dollar could still get to $111 – $112
- Oil target has been lowered
STOCK MARKET ANALYSIS
- S&P 500 (SPX)
- Resistance levels are at $4052, $4104 – Daily chart
- The highest probability is a failure in the resistance area
- Very likely to fall back below $3886
- Approaching a period of risk
- There will likely be a better time to buy in late September – early October
That’s the show for this week!
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