Daily Video Update for Monday May 2, 2022

Daily Video Update for Monday May 2, 2022
Recap 1: Friday, April 29, 2022
Open
Gap lower Open below the daily pivot (4262).
The daily pivot acted as resistance.
Midday:
Selling to S1 (4215).
Rebound failed.
Close
Selling to S2 (4142).
Closed just below S2 just off of the low.
Down: -3.63%
Volume:
Above average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.
Recap 2: Friday, April 29, 2022
Market Comments:
Broad-based decline
Amazon earnings disappointing
Inflation and supply chain fears
Interest rates advanced while stocks declined.
ST oversold
Equity P/C Ratio still high
Technicals negative
Lost IT support level (4276).
S&P 500 is in correction territory.
10-5 Yield curve remains inverted.
Economic Reports:
Personal Income decreased while spending increased (savings). Employment costs increased, PCE Price index increased, Consumer Sentiment increased but is hoping for a better future. Chicago PMI decreased.
Trend Condition:
Trend: Negative. Bias (Negative). Momentum (Negative).

The Day’s Session
Sentiment
SPX Sectors
Intraday
10-Minute Chart
Technical Alerts
FED Watch
Technical Overview
Friday, April 29, 2022 Outperforming
Technical Overview: Market Strength-Outperforming
Value/Growth
Growth/Bond prices.
10 Year Yield/Tech and SPX
Low Volatility/SPX
Energy/SPX/SPY
Energy/Tech
CRB/SPX
Gold/SPX
Staples/Discretionary
Junk Bonds/Treasury Bonds.
Friday, April 29, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples
Friday, April 29, 2022 Underperforming
Technical Overview: Market Weakness-Underperforming
NASDAQ 100/S&P 500
S&P 500/10 Year Yield
Growth/Value
Tech/Interest rates and SPX/SPY
SPX/CRB
S&P 100/S&P 500
Discretionary/Staples
Recap 6: Friday, April 29, 2022 Negative
Technical Overview: Market Negatives
Dow Jones Comp
Discretionary underperforming staples.
Long-Term trend still declining.
No changes in Chart Variations: All are still negative.
World Indexes continue to decline.
Junk Bonds outperforming Treasury Bonds but Junk Bonds are negative.
FANG Index
Small Caps
Dow
Mid Caps
NASDAQ
NDX
NYSE Comp
All Stocks ETF
ARK Innovation ETF
Bitcoin Index
WLSH
World Indexes
Corporate Bond Prices
Friday, April 29, 2022 SPX Negative
Technical Overview: SPX Negative Indicators
Below all MAs
MAs declining
Advance/Decline studies
Momentum Indicators
Parabolic SAR
New highs/New lows
BPI
CCI 14 & 20
Chaiken Oscillator
CMF
Force Index
MFI
SpecialK
StochRSI
Ult Oscillator
Vortex
Williams %R
Summation Index
Accumulation/Distribution
Boom 50
%B
RSI 9 & 14
Breadth Analysis
Advance/Decline, NH/NL Studies
Earnings
Trend Analysis
S&P 500 Analysis
Trading Systems
Bonds
Broad Market
Other Markets
Isabelnet Blog
Monday, May 2, 2022 Outlook
Technicals: Negative
The markets remain in a trendless IT range.
Growth vs Value battle
Economic Reports:
ISM Manufacturing Index and Construction Spending.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak. Japan.
Monday, May 2, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears.
Earnings and Fed Speak that spooks the markets.
B. Technicals negative but ST oversold.
2. Up (Positive)
A. ST and IT oversold.
B. Positive but not currently viable:
- Longer term “bottom signals” could be setting up to generate signals.
- Positive backdrop after yield curves re-invert.
- Staples Ratio spike.
- 2 Yr Yield Spike.
- Small Cap thrust prior to S&P 500 thrust.
B. Technicals: MAs and pivots may provide support/resistance.
3. Sideways: (Neutral)
ADX is above 20, starting to climb and showing a negative trend.
Conclusion based on Friday, April 29, 2022
Overview:
The SPX is negative.
Short-Term:
Negative and oversold.
Intermediate-Term:
Negative and oversold.
Oscillators: negative and below important MAs.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com