Weekly Video Update for June 13-17, 2022.

Each week, a video is prepared which analyzes and evaluates current conditions of the S&P 500.
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Weekly Video Update
For June 13-17, 2022
The Week’s Session
Recap 1: Week of June 6- 10, 2022
For the Week:
Numerous big companies negatively revised forecasts including:
Target, Intel, Scotts Miracle-Gro.
Oil went as high as $123.18 while natural gas futures went as high as $9.66.
The OECD cut its 2022 global GDP view to 3.0% from 4.5% and the Atlanta Fed's GDPNow model estimate for Q2 was reduced to 0.9% from 1.3%.
The Reserve Bank of Australia and the Reserve Bank of India both raised their key policy rates more than expected.
The ECB said it intends to raise its key interest rates by 25 basis points at the July meeting and that it will follow suit with more rate hikes in September and beyond. It also announced the end of its net asset purchase program on July 1 and raised its 2022 annual inflation forecast to 6.8% from 5.1% and its 2023 annual inflation forecast to 3.5% from 2.1%.
Several Shanghai districts were back in lockdown for COVID testing and entertainment venues in a Beijing district were closed amid COVID concerns.
The Index of Consumer Sentiment for June hit the lowest level on record (50.2) dating back to 1978.
Total CPI increased 8.6% year-over-year in May, marking its largest increase since December 1981. Core CPI was up 6.0% year-over-year, down from 6.2% in April but still a long way from the Fed's longer-run inflation goal of 2.0%.
Down: -5.05% for the week.
Volume:
Below average
Fixation:
Technicals, inflation and interest rates, geopolitical concerns, China/Supply chain, Oil, Fed Speak & Policy, Earnings.
Trend Condition:
Strengthening Trend: Negative
Sectors
Current Market Valuation
https://currentmarketvaluation.com/
Sentiment
Earnings & Valuation
Economy
FED Watch
Breadth Analysis
Advance/Decline, NH/NL Studies
Trend Analysis
Long Term
Months to Years
Chart Variations
Trading Systems
Broad Market
Stocks
Broad Market
Other Markets
Bonds & Interest Rates
Relative Studies
Outlook for June 13-17, 2022
Major Economic Reports to be released:
Tuesday:
PPI
Wednesday
Retail Sales
FOMC Meeting
Thursday
House Starts, Building Permits, Jobless Claims
Friday
Industrial Production & Capacity Utilization
Things to Watch:
Technicals, inflation and interest rates, geopolitical concerns, Russia/Ukraine, China/Supply chain, Oil, Fed Speak & Policy, Earnings, Japan.

Monday, June 13, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates, inflation fears, growth concerns, earnings, Fed Speak & policy, Fear. The recent trend of selling into strength.
B. Technicals are negative.
2. Up (Positive)
A. The technicals are negative. Disbelief.
B. Possible positive scenarios.
Coppock Curve and Pring Bottom Fisher have turned up. Staples spike is looking more viable(?). The Mass Index has triggered a signal. Have 2 Year Yields topped? (No!) Fed Pivot? (No!)
C. Technicals: Pivots, ST MAs, fib retracements, and previous levels may provide S/R.
3. Sideways: (Neutral)
ADX is below 20 with a negative bias.
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com