Hello, askSlim members!

Below is an interim update to the Stock Index Report (SIR) Weekly Outlook as of 3/18/20. A new full SIR Weekly Outlook will be published tomorrow, later in the day, after the Special Report video is posted.

Slim’s Briefing:
The stock market recovered off steep lows late on Wednesday, as the Senate passed the stimulus bill. The sizable reversal gave me enough hope that we had good anchor points for a full update in the futures chart grids rather than waiting for tomorrow morning.

Overall, the selling on Wednesday looked like capitulation, as many charts in futures and equities had hammer patterns. While these lows may get tested, and patterns overall do not suggest bottoms for a few days, price levels seen today could very well be the worst of it for now. We will be watching our near-term indicators (Slim Ribbon and Reversal Scout) off of our 2hr charts for clues that a near-term low has formed or is forming as the timing in our cycle work is suggesting is due.

Included below are updates to:

  • Slim’s annotated weekly & daily charts
  • The askSlim trend & momentum tracker
  • 2-hr and 1-month Slim Ribbon momentum comparison charts

Helpful Tips:

  • Click on each chart image for the full-size render.


Slim’s  Annotated Charts

askSlim Annotated –SPX WEEKLY CHART

askSlim Annotated –SPX DAILY CHART



askSlim Annotated  –
NDX WEEKLY CHART

askSlim Annotated  –NDX DAILY CHART



askSlim Annotated  – RUT 
WEEKLY CHART

askSlim Annotated  – RUT DAILY CHART


*askSlim Trend & Momentum Tracker

*Our use of “Near-Term” refers to the use of 2hr intraday charts and other trend analysis that is assimilated from market data over the last 5-7 trading days. Our use of “Short-Term” refers to the use of primarily daily charts and other trend analysis that is assimilated from market data over the last few to several weeks. Our use of “Intermediate-Term” refers to the use of primarily weekly charts and other trend analysis that is assimilated from market data over the last several weeks to several months. Our use of “Long-Term” refers to the use of primarily monthly charts and other trend analysis that is assimilated from market data over the last several months to several years.


2hr Intraday Area Chart “Comparison” with SLIM Ribbon Momentum Indicator & MCI



1 Month Daily Area Chart “Comparison” with the SLIM Ribbon Momentum Indicator


SIR Overview:


The “SIR” is designed to deliver an analytical framework that provides active traders and investors with unbiased technical insights to support trading planning development and an overall gauge of market direction for the S&P 500, Nasdaq 100, and Russell 2000 stock market indexes. We use a proprietary blend of trend and momentum indicators along with Slim’s cycle analysis with the purpose of forecasting potential price objectives both on the upside and downside at multiple timeframes for the three stock market indexes.

The analysis presented in the Stock Index Report (SIR) is purely technical in nature. The foundational components of our technical work includes proprietary trend, momentum and cycle studies. Our trend and momentum indicators are formulaic and nearly 100% objective and are designed to provide bullish, bearish or neutral “readings” on any security or index at multiple timeframes. Our cycle work is an art as much as it is a science and it is the most forward looking of the three primary technical components. The highest probability directional outlooks are when we have “alignment” in our primary technical conditions (trend, momentum and cycle) and at multiple timeframes.

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DISCLAIMERS

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