S&P 500 Snapshot Market Outlook For Thursday, April 21, 2022

Daily Video Update for Thursday, April 21, 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 Thursday April 21, 2022
Recap 1: Wednesday, April 19, 2022
Open
Gap higher Open
Immediate selling
Midday:
Choppy price movement.
Intraday high tested multiple times.
Close
Late day buying but some selling into the Close.
Down: (-0.06%)
Volume:
Below average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.
Market Comments:
Technicals remain negative but showing some improvement.
10-5 Yield Curve has gone inverted again.
Netflix drop dominated the news (down over 35%).
Economic Reports:
Existing Home Sales declined due to rising interest rates and inflation concerns.
Weekly MBA Mortgage Applications Index decreased.
Trend Condition:
Trend: Trendless. Bias (mixed). Momentum (negative/mixed).
The Day’s Session
Sentiment
Fear & Greed Index
VIX
The VIX of the VIX
Ulcer Indicator
Technical Alerts
SPX Sectors
Tech Sector
SOXX Index: Semiconductors
Inflation
CRB Index
SPX/CRB Ratio
CRB/SPX Ratio
Technical Alerts
Intraday
10-Minute Chart
Daily Pivot Points
Support and Resistance levels
Retracement from High
Distance from 200 SMA
Growth vs. Value
Trend Analysis
ADX
AROON
DecisionPoint Market Scoreboard
Breadth Analysis
Advance/Decline, NH/NL Studies
Short Term: Days to Weeks
Moving Averages Studies
MACD
Swenlin Trading Oscillator: STO
McClellan Oscillator
StochRSI
Williams %R
Force Index
Intermediate Term: Weeks to Months
50 period moving averages
100 period moving averages
PMO: Price Momentum Oscillator and studies
BPI: Bullish Percent Index
Moving average rainbow
Stochastic Studies
Summation Index
Momentum Studies
CCI: Commodity Channel Index
VTX: Vortex
RSI Studies: Relative Strength Index
BOP: Balance of Power
ConnorsRSI
Trading Systems
Elder Impulse System
SAR: Stop and Reverse
Chart Variations
Heikin Ashi
Kagi
Renko
Three-line break
Equivolume with EMV: Ease of Movement
Point and Figure
Long Term: Months to Years
S&P 500: Arithmetic and Logarithmic Scales
Vanguard Mega Cap Growth ETF: MGK
SpecialK
Long-Term Moving Average Studies
Fibonacci Retracement
Broad Market: Stocks
Dow Jones Composite Average: DJA
Dow Theory
FANG Plus Index
ARKK Innovation ETF
Dow Jones Industrial Average
DIA: Diamonds ETF
S&P 600 Small Cap Index
S&P 400 Mid Cap Index
NASDAQ Composite
NASDAQ 100: NDX
VXN: NASDAQ 100 Volatility Index
QQQ
NYSE Composite Index
S&P 100/S&P 500 Ratio
Wilshire 5000 Composite Index
World Indexes
ACWI All-World Stocks
World Index Non-US
Broad Market: Other Markets
US Dollar Index daily and weekly
Light Crude Oil
Gold: GLD
Silver: SLV
BTC: Bitcoin Index
Bonds
Yield Curve Studies
30-year Bond Yield Fibonacci Retracement
US Treasury Yields
World 10 Year Bond Yields
Pring World Bond Index
Dow Jones Corporate Bond Index
Moody’s Seasoned Aaa Corporate Bond Yield
Junk Bond Index: High Yield
ICE BofA US High Yield Index Effective Yield
Relative Studies
Gold/S&P500 Ratio
Energy/SPY Ratio
Energy/Tech Ratio
Growth/Bond Ratio
Tech/SPY Ratio
Tech/10-Year Yield Ratio
Tech/10-Year Yield Correlation
10-Year Yield/Tech Ratio
Discretionary/Staples Ratio
S&P 500/10-Year Yield Ratio
S&P 500 Low Volatility ETF
S&P 500 Low Volatility/SPY Ratio
Staples/S&P 500 Ratio
Outlook
Technicals: Negative but showing improvement.
The markets remain in a trendless IT range.
Growth vs Value battle
Supply Chain issues
Economic Reports:
Weekly Initial and Continuing Claims, the Philadelphia Fed Index, and the Leading Economic Index.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings.
Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears. Earnings.
B. Technicals negative.
2. Up (Positive)
A. Positive backdrop after yield curves re-invert and Staples spike.
B. Technicals possibly improving.
MAs and pivots may provide support/resistance.
3. Sideways: (Neutral)
ADX is below 20 and continues to decline.
Price movement slow-down and choppy.
Conclusion
Overview: The SPX is negative.
Short-Term: Negative but possibly improving.
Intermediate-Term: Negative but possibly improving.
Oscillators: negative and below important MAs.
Long-Term: Negative: Below 200 SMA.
Available Videos
Daily Snapshot Video, Daily Video update: full-length, Weekly Video, Monthly Videos: Markets
Economy*, Sectors*, International*
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com