Daily Video Update for Wednesday, May 11, 2022.

Daily Video Update for Wednesday, May 11, 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 Wednesday May 11, 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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3. Sorry for late postings.
Recap 1: Tuesday, May 10, 2022
Open
Gap higher Open to R1 (4057)
Midday:
Selling took prices negative
Buying took prices back positive and close to the earlier high.
Close
Late day selling took prices back to the UNCH level.
Buying at the close allowed for a small gain.
Up: 0.25%
Volume:
Above average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.
Recap 2: Tuesday, May 10, 2022
Market Comments:
S&P 500 up as much as 1.9% and down as much as 0.80%
Regained 4000.
Oil under $100
Technical damage continues in spite of the small bounce.
Growth did well but has a long way to go.
ST oversold bounce? Can it continue?
S&P 500 is in correction territory.
Economic Reports:
NFIB Small Business Optimism was unchanged at 93.2.
Trend Condition:
Trend: Negative (strengthening). Bias (Negative). Momentum (Negative).
The Day’s Session
Sentiment
SPX Sectors
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Tuesday, May 10, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Tuesday, May 10, 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.
Trend Analysis
Breadth Analysis
Advance/Decline, NH/NL Studies
Short Term
Days to Weeks
Intermediate Term
Weeks to Months
Trading Systems
Weeks to Months
Long Term
Months to Years
Broad Market
Stocks
Broad Market
Other Markets
Bonds
Wednesday, May 11, 2022 Outlook
Technicals: Negative and trying to bounce from being oversold.
The markets have broken below a trendless IT range.
Growth vs Value battle
Economic Reports:
Consumer Price Index (CPI), the Treasury Budget, and the weekly MBA Mortgage Applications Index.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak. Japan.
Wednesday, May 11, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears.
Earnings and Fed Speak that spooks the markets.
B. Technicals negative and oversold.
2. Up (Positive)
A. Oversold bounce? Can it continue? CPI relief rally?
B. Possible positive scenarios. N/A.
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 Tuesday, May 10, 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
[email protected]