S&P 500 Market Outlook For The Week of May 2-6, 2022.

Weekly Video Update for May 2-6, 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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Weekly Video Update
For May 2-6, 2022
The Week’s Session
Recap 1: Week of April 25 - 29, 2022
For the Week:
Concerns over earnings disappointments, rising interest rates, slowing growth, inflation and Fed policy led to a negative week.
Down: -3.3% for the week.
Volume:
Above Average
Fixation:
Technicals, inflation and interest rates, geopolitical concerns, China/Supply chain, Oil, Fed Speak, Earnings.
Trend Condition:
Slightly strengthening Trend: Negative
Inflation Fears
The Advance GDP brought stagflation fears:
Real GDP decreased at an annual rate of 1.4% in the first quarter while most expected it to be up 1.1%.
The GDP Chain Deflator increased 8.0% while most expected it to be up 7.3%.
The PCE Price Index surged 0.9% m/m, y/y 6.6% from 6.3%.
The Q1 Employment Cost Index increased 1.4%. Higher than the expected increase of 1.1%.
Sectors
Current Market Valuation
https://currentmarketvaluation.com/
Sentiment
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
Relative Studies
Outlook for May 2-6, 2022
Major Economic Reports to be released:
Monday:
ISM Manufacturing Index & Construction Spending
Wednesday:
IHS Markit Services PMI – Final, ISM Non-Manufacturing Index.
FOMC Meeting
Friday:
Employment Situation
Things to Watch:
Technicals, inflation and interest rates, geopolitical concerns, Russia/Ukraine, China/Supply chain, Oil, Fed Speak, Earnings, 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.
Thank You!
John Clay
The SPX Investing Program
[email protected]