Daily Video Update for Tuesday, May 17, 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 17, 2022
Recap 1: Monday, May 16, 2022
Open
Lower Open
Prices were negative but never reached S1 (3979).
Midday:
Prices bounced above S1, the daily pivot and UNCH.
Prices eventually went positive for a while.
Close
Late day selling took prices back negative.
Down: -0.39%
Volume:
Below average and declining
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings.
Recap 2: Monday, May 16, 2022
Market Comments:
The VIX declined on a down day.
Gas is spiking and heating oil, wheat (India exports banned), and corn are rising.
Oil is rising as China (Shanghai) lockdowns may be phased-out.
The USD and the Euro are about even.
The S&P 500 was down but the technicals continue to show improvement.
Fed Chair Powell speech on Tuesday.
Fear is unchanged from Friday and very extreme.
S&P 500 is in correction territory.
Economic Reports:
None too significant
Trend Condition:
Trend: Negative (strengthening). Bias (Negative). Momentum (Negative).
The Day’s Session
Sentiment
Inflation
SPX Sectors
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Monday, May 16, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Monday, May 16, 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
Chart Variations
Trading Systems
Weeks to Months
Long Term
Months to Years
Broad Market
Stocks
Broad Market
Other Markets
Bonds
Possible Positive Scenarios
Tuesday, May 17, 2022 Outlook
Technicals: Negative but may be improving slightly.
The markets have broken below a trendless IT range.
Growth vs Value battle
Economic Reports:
Retail Sales, Industrial Production and Capacity Utilization, the NAHB Housing Market Index, and Business Inventories.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak. Japan.
Tuesday, May 17, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears (?).
Earnings and Fed Speak that spooks the markets.
B. Technicals negative but showing some improvement.
2. Up (Positive)
A. Improving Technicals? Sentiment extreme negative.
B. Possible positive scenarios. N/A but might be setting up.
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 16, 2022
Overview:
The SPX is negative.
Short-Term:
Negative but improving.
Intermediate-Term:
Negative but improving.
Oscillators: Negative and below important MAs.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
[email protected]