US Stock Market - S&P 500 SPY | Weekly and Daily Cycle and Chart Analysis | Price Projections
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- เผยแพร่เมื่อ 28 มี.ค. 2024
- Enjoy a clip from the latest episode of the askSlim Market Week.
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#Trader, analyst and mentor, Steve "Slim" Miller is an active trader in index futures, #gold, #silver, #bonds, oil, #dollar, euro, stocks and #options. He is also a trader coach and hedge fund consultant. Slim is a past member of the CBOE (1974), CBOT and Chicago Mercantile Exchange.
Slim looks at things differently than most market analysts. He applies his unique cycle analysis to nearly 400 widely held stocks, futures and ETFs. Learn the most unique style of technical analysis, evolved from the work of JM Hurst's book, "Profit Magic of Stock Transaction Timing"
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If you notice Weekly chart of SPX it’s formation for Cup & Handle. 20 DMA very far away and RSI overbought. I think pullback is overdue
👍
Thanks for your very useful opinion about the stock markets. I live in Europe (Belgium).
Very welcome
Hi Slim
Good market recap as usual! I have one question though: how often do you update your cycle brakets?
Thanks
Diapa
The market is really determined if cycle brackets need to be narrowed or lengthened or reset in location. so there was no regular timing on that.
Best format of all the videos I’ve seen in the past year. Nicely done ✅ 👍🏼
Wow, thanks!
Yesterday did hit right above that warning Fib. I gotta watch yesterday’s video you made to see what you had to say about yesterday
That video was a sample of FutureSpeak, premium member content. The will not be a Market Week show til next Friday.
what is the upside risk?
The new term intermediate projection to the upside was discussed in the video.
First time watching. Subbed
👍
I open a short futures warrant at spx around 5250 the product will be worth zero if spx hits 5550. Lets see if there will be s pullback. This one is a hedge on my longs.
“ short, futures warrant?” Not sure what you did here.
Its leveraged product European stuff called "mini Future" basically it follows the underlying with leverage. No margin you can only lose what you buy.
i wonder when there is coming a crash ..could you see that in de cycles...????
We can see periods of risk. We can never tell the magnitude of the decline. Targets are usually conservative and we do not ever predict a crash
Look like started today topping cycle
Possibly
459.77??
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It could just maybe hit 459.44 July high ? 13 percent correction
April might be still bullish and may be a pull
Back correction
Possibly
There’s no crash.. only goes up
I don’t think so
Is somebody calling for a crash?
So, there is no 🐻 market
Right now, as we’ve been saying, the market is clearly in a cyclical bull.
It's not what you said at the beginning of the year
@@adsf255 yes it is! Secular bear - Cyclical bull
I didn't notice secular and cyclical
Sell (or buy?) in May and Go away
I give the answer to this based on our analysis in the video
Love your analysis. I have a feeling we should still see some upside to 530 based off of fed comments today coming in more doveish and a pce that was in line with expectations. Although there was a slight uptick in revisions and in line analyst forecasts being met, there's still room for upside with what I think may be consolidation in late April into may, and then a potential downside forming in may due to additional hot reports, as long as we get hotter cpi and ppi, that shows it's consistently rising, or staying stagnant, as the fed needs the additional data, and expects further bumps in the road which is rational of them to think. I love your commentary, and some people just get too emotional with their comments. I'm just stating my thesis that I also thing were in for a potential consolidation point coming in the middle of q2 due to consistency "hotter" data prints that come in. It's just that breadth in small caps, and rsp still shows strength, but the market and algos consistently have been showing that downside can come in quite quick, and in a highly aggressive fashion due to the use of 0dtes, and market makers flipping into heavy buy or sell programs due to 0dte gamma points, along with high gamma levels on the spx/spy in different levels that traders are targeting. I swing and day trade myself, and there has been many algorithmic trading programs from last weeks bull flag that formed, with the massive break out of the flag, and even thrusdays descending triangle breakout into an algo resistance. Many in a few groups I trade with are in the cam the qqq and spy are in a cup and handle on smaller 4hr timeframes ready to break out, and are leaning more bullish, with lots of caution due to the market ready to go down on a sneeze, due to any indication the fed won't cut 3x in June. Many think we remain bullish into June, with very minimal drawdown of less than 5% along the way, and some hinging we may chop back into the 505-515 zone with fake outs above to burn premiums and create a distribution zone in order to wait to move higher due to incoming data, yet smaller caps and rsp just look primed for a move higher. Hopefully my comment is constructive and doesn't come off like other people's. I love your work and see exactly where you analysis is coming from, and many in my trading group use your cycle charts and love your work as well. Keep it up! (:
Appreciate that. And thanks for your comments. Note that Powell‘s comments were not taken as dovish.
Im short for a low this week, nothing crazy a dip of up to 2% max before trend continues. Ugly downside late summer/fall barring extensions
Thanks