Daily Video Update for Tuesday, May 10, 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 Tuesday May 10, 2022
Announcements
1. SPXInvestingBlog.com
All slides used in each day’s video can be viewed, downloaded as a PDF, and/or saved individually.
Slides of charts NOT used in the video, but are viewed each day, are also uploaded for viewing, saving and now available to download as a PDF.
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Recap 1: Monday, May 9, 2022
Open
Large gap lower Open
Below the S1 (4075)
Selling continued to S2 (4027)
Midday:
Prices bounced above and below S2.
Close
Late day selling took prices to below 4000.
Down: -3.20%
Volume:
Above average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.
Recap 2: Monday, May 9, 2022
Market Comments:
Selling continued to below 4000.
Interest rates declined after rising overnight.
Lost LT support
Becoming ST oversold
Heating oil and Gas rising
S&P 500 is in correction territory.
Economic Reports:
Wholesale Inventories increased 2.3% m/m (expected 2.3%).
Trend Condition:
Trend: Negative (strengthening). Bias (Negative). Momentum (Negative).
Recap 3: Monday, May 9, 2022
YTD performance:
Dow Jones Industrial Average -11.3% YTD
S&P 500 -16.3% YTD
Russell 2000 -21.5% YTD
Nasdaq Composite -25.7% YTD
The Day’s Session
Sentiment
Inflation
SPX Sectors
Isabelnet Blog
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Monday, May 9, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Monday, May 9, 2022 Negative
Technical Overview: Market Negatives
Dow Jones Comp
World Indexes
Junk Bonds
FANG Index
Small Caps
Dow
Mid Caps
NASDAQ
NDX
NYSE Comp
All Stocks ETF
ARK Innovation ETF
Bitcoin Index
WLSH
Treasury and Corporate Bond Prices.
Monday, May 9, 2022 SPX Positive Setups
Technical Overview: Possible SPX Positive Setup Indicators
Coppock Curve
Mass index
Pring Bottom Fisher
SML/SPX Ratio Small Cap Thrust
Positive backdrop after an inverted yield curve.
Staples/SPX Spike
Trend Analysis
Breadth Analysis
Advance/Decline, NH/NL Studies
Short Term
Days to Weeks
Intermediate Term
Weeks to Months
Trading Systems
Weeks to Months
Chart Variations
Long Term
Months to Years
Broad Market
Stocks
Broad Market
Other Markets
Bonds
Tuesday, May 10, 2022 Outlook
Technicals: Negative and oversold.
The markets are breaking below a trendless IT range.
Growth vs Value battle
Economic Reports:
NFIB Small Business Optimism Index
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak. Japan.
Tuesday, May 10, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears.
Earnings and Fed Speak that spooks the markets.
B. Technicals negative and ST oversold.
2. Up (Positive)
A. Oversold bounce?
B. Possible positive scenarios
C. Technicals: Pivots and previous levels may provide support/resistance.
3. Sideways: (Neutral)
ADX is above 20, strengthening and showing a negative trend.
Conclusion based on Monday, May 9, 2022
Overview:
The SPX is negative.
Short-Term:
Negative and oversold.
Intermediate-Term:
Negative becoming oversold.
Oscillators: Negative and below important MAs.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com