Daily Video Update for Monday, April 25, 2022.

Daily Video Update for Monday, April 25, 2022.
Each day the market is open, a video is prepared which analyzes and evaluates current conditions of the S&P 500.
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Daily Video Update
For Monday April 25, 2022
Recap 1: Friday, April 22, 2022
Open
Negative Open
Selling quickly took prices below S1 (4347).
Midday:
S1 became resistance and selling took prices to S2 (4301).
Prices broke below S2.
Close
Buying tried to take prices back above S2 but was unsuccessful.
Closed almost at the low.
Down: (-2.77%)
Volume:
Slightly below average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.
Market Comments:
Thursday’s selling continued.
Technicals negative but ST oversold. Some IT indicators oversold.
S&P 500 is back in correction territory.
Earnings uninspiring.
Germany’s GDP forecast dropped from 3.6% to 2.2%.
10-5 Yield Curve is still inverted.
Perma-Bears are euphoric.
Economic Reports:
Preliminary IHS Markit Manufacturing and Services PMIs had little impact.
Trend Condition:
New negative trend developing
Trend: Negative. Bias (Negative). Momentum (negative).
The Day’s Session
Sentiment
Fear & Greed Index
VIX
The VIX of the VIX
Ulcer Indicator
Technical Alerts
SPX Sectors
Tech Sector
SOXX Index: Semiconductors
Inflation
CRB Index
SPX/CRB Ratio
CRB/SPX Ratio
Technical Alerts
Intraday
10-Minute Chart
Daily Pivot Points
Support and Resistance levels
Retracement from High
Distance from 200 SMA
Growth vs. Value
Trend Analysis
ADX
AROON
DecisionPoint Market Scoreboard
Breadth Analysis
Advance/Decline, NH/NL Studies
Short Term: Days to Weeks
Moving Averages Studies
MACD
Swenlin Trading Oscillator: STO
McClellan Oscillator
StochRSI
Williams %R
Force Index
Intermediate Term: Weeks to Months
50 period moving averages
100 period moving averages
PMO: Price Momentum Oscillator and studies
BPI: Bullish Percent Index
Moving average rainbow
Stochastic Studies
Summation Index
Momentum Studies
CCI: Commodity Channel Index
VTX: Vortex
RSI Studies: Relative Strength Index
BOP: Balance of Power
ConnorsRSI
Trading Systems
Elder Impulse System
SAR: Stop and Reverse
Chart Variations
Heikin Ashi
Kagi
Renko
Three-line break
Equivolume with EMV: Ease of Movement
Point and Figure
Long Term: Months to Years
S&P 500: Arithmetic and Logarithmic Scales
Vanguard Mega Cap Growth ETF: MGK
SpecialK
Long-Term Moving Average Studies
Fibonacci Retracement
Broad Market: Stocks
Dow Jones Composite Average: DJA
Dow Theory
FANG Plus Index
ARKK Innovation ETF
Dow Jones Industrial Average
DIA: Diamonds ETF
S&P 600 Small Cap Index
S&P 400 Mid Cap Index
NASDAQ Composite
NASDAQ 100: NDX
VXN: NASDAQ 100 Volatility Index
QQQ
NYSE Composite Index
S&P 100/S&P 500 Ratio
Wilshire 5000 Composite Index
World Indexes
ACWI All-World Stocks
World Index Non-US
Broad Market: Other Markets
US Dollar Index daily and weekly
Light Crude Oil
Gold: GLD
Silver: SLV
BTC: Bitcoin Index
Bonds
Yield Curve Studies
30-year Bond Yield Fibonacci Retracement
US Treasury Yields
World 10 Year Bond Yields
Pring World Bond Index
Dow Jones Corporate Bond Index
Moody’s Seasoned Aaa Corporate Bond Yield
Junk Bond Index: High Yield
ICE BofA US High Yield Index Effective Yield
Relative Studies
Gold/S&P500 Ratio
Energy/SPY Ratio
Energy/Tech Ratio
Growth/Bond Ratio
Tech/SPY Ratio
Tech/10-Year Yield Ratio
Tech/10-Year Yield Correlation
10-Year Yield/Tech Ratio
Discretionary/Staples Ratio
S&P 500/10-Year Yield Ratio
S&P 500 Low Volatility ETF
S&P 500 Low Volatility/SPY Ratio
Staples/S&P 500 Ratio
Outlook
Technicals: Negative. ST and some IT indicators oversold.
The markets remain in a trendless IT range.
Growth vs Value battle
Supply Chain issues
Economic Reports:
None
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak.
Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears.
Earnings and Fed Speak that spooks the markets.
B. Technicals negative.
2. Up (Positive)
A. ST and some IT oversold.
B. Positive backdrop after yield curves re-invert and Staples spike.
B. Technicals: MAs and pivots may provide support/resistance.
3. Sideways: (Neutral)
ADX is below 20 but starting to climb and showing a negative trend.
Price movement slow-down and choppy.
Conclusion
Overview:
The SPX is negative.
Short-Term: Negative but oversold.
Intermediate-Term: Negative and partly oversold.
Oscillators: negative and below important MAs.
Long-Term: Negative: Below 200 SMA.
Available Videos
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Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com