Steve Miller Blog | Talkmarkets | Page 1
Trader, Analyst, Mentor with over 40 years experience in the financial markets - Host askSlim
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I have spent the over 40 years trading stocks, options, futures on and off the trading floor. My nickname, "Slim" came from my trading floor badge, SLM. Currently, I'm an on-air host providing daily analysis and commentary on the financial markets and Coaching/Consulting for Hedge ... more


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This Week In Stocks - May 27
Our analysis of the S&P 500 for the next two weeks is for a period of risk. We see a possible move higher early next week, with resistance at 2744. We are then looking for a downside move of 125-150 points over the next two weeks.
Gold Drops As Rates Rise - Cycles Show Bottom Is Near
We can see gold falling as the declining phase of its current market cycle comes to a close. Our support level was $1302 and the next level is $1288. We believe an important low is pending.
Joke’s On You, Elon
Tesla was down 6% on Monday morning after the market decided that CEO Elon Musk’s April Fool’s tweet about the company going bankrupt wasn’t actually that funny.
Lowe’s Tanks On Earnings, Possible Short-Term Bottom
The analysis of LOW market cycles shows this week as a probable low. We see it likely rebounding over the coming month to $98. This may prove to be a "sell zone" for nimble traders.
Dillard’s Nails Earnings But Market Cycles May Reward Patience
Dillard’s stock is currently near significant resistance. It may be over-extended. I expect a pullback into April, below $75, that could prove to be a buying opportunity.
US Steel Up On Trump Tariffs, But Will Cycles Push It Lower?
US Steel (X) may be hitting an upside target zone, likely to bring a top soon, according to its market cycles. Our projection is for a correction to the $40.44 level.
Look For More Volatility, As Stocks Set To Extend Bounce And Then Fail
The S&P 500 (SPX) daily chart shows our projection for the coming week. It suggests a rally attempt, then a turn lower with resistance at last week’s high of 2757.
Pandora Pops Then Drops, Cycles Pushing Lower
Pandora has seen continual negative cyclical patterns, suggesting lower prices. This coincides with a challenging competitive environment. The stock’s current market cycle suggests a decline into mid-March, likely testing its recent low near $4.
Devon Misses Earnings, Sinks Further Past Cycle Low
Devon Energy (DVN) broke the low for its current market cycle three weeks ago. Our projection is for support at $28.80, based on the 61.8% Fibonacci retracement.
Stocks Bounce But Cycles May Keep Things In Check
Using cycle analysis, our projection for the S&P 500 for the coming week is for a minor decline perhaps into the range of 2703 to 2665, and later rising again as a new market cycle begins.
Cisco Pops On Earnings As New Rising Phase Starting
Cisco is clearly in a powerful cycle pattern, taking only a couple weeks off during the declining phase of its previous market cycle. Our near-term projection is $48.
BIDU Pops On Earnings But Faces Cyclical Headwinds
BIDU was up 5% on strong earnings, however, using cycle analysis, the technical patterns suggest another drop, potentially below $210.
UAA Surges, Here’s Why It’s Not Quite Yet Time To Buy
UAA’s could be building a bullish base for later this year. Today’s surge in price puts the stock into a red resistance zone for its current market cycle. I expect a pullback at the cycle comes to a close and the next cycle begins.
Today A Joyful Bounce, Tomorrow More Tears
Today stocks continued the bounce they started last week. Viewed through the lens of cycle analysis, upon testing resistance between 2652 and 2676, I expect the declining phase of the minor and major cycles to begin pushing the SPX lower.
Two-Sided Markets Return, Look For More Action This Week
The S&P 500 moved lower last week, declining by 5.1%. Market participants continued to express concern about the impact of rising inflation. Our projection this week is for stocks to bounce and then resume their decline into the cycle bottom.
Nvidia Pops On Earnings, But Market Cycle May Weigh It Down
Nvidia's stock was up by 7% in Friday morning trading. The company attributed its earnings to strong demand related to computer gaming, artificial intelligence, and cryptocurrency mining.
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