Daily Video Update for Monday, May 9, 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 Monday May 9, 2022
Access to Slides
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 and saving.
Recap 1: Friday, May 6, 2022
Open
Large gap lower Open
Below the S1 (4078).
Midday:
Rebounded to UNCH.
Priced bounced but never broke through the UNCH level.
Prices drifted lower
Close
Late day buying helped prices close off of the low.
Down: -0.57%
Volume:
Above average
Fixation:
Technicals, inflation & interest rates, geopolitical concerns, earnings shocks and surprises.

Recap 2: Friday, May 6, 2022
Market Comments:
Selling continued
Rising interest rates negatively impacted stocks.
LT support still holding
Becoming ST oversold
Heating oil rising and Gas spiking
S&P 500 is in correction territory.
Economic Reports:
April nonfarm payrolls increased by 428,000 (expected 395,000). Seen as strong.
Trend Condition:
Trend: Negative (weakening). Bias (Negative). Momentum (Negative).
Recap 3: Friday, May 6, 2022
YTD performance:
Nasdaq Composite -22.4% YTD
Russell 2000 -18.1% YTD
S&P 500 -13.5% YTD
Dow Jones Industrial Average -9.5% YTD
The Day’s Session
Sentiment
Inflation
SPX Sectors
Isabelnet Blog
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Friday, May 6, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Friday, May 6, 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
World Indexes
Treasury and Corporate Bond Prices.
Friday, May 6, 2022 SPX Positive Setups
Technical Overview: Possible SPX Positive Setup Indicators
Coppick Curve
Mass index
Pring Bottom Fisher
SML/SPX Ratio Small Cap Thrust
Positive backdrop after an inverted yield curve.
Staples/SPX Spike?
Trend Analysis
Breadth Analysis
Advance/Decline, NH/NL Studies
Intermediate Term
Weeks to Months
Trading Systems
Weeks to Months
Chart Variations
Long Term
Months to Years
Broad Market
Stocks
Broad Market
Other Markets
Bonds
Potential Scenarios Developing
Monday, May 9, 2022 Outlook
Technicals: Negative and becoming oversold.
The markets remain in a trendless IT range.
Growth vs Value battle
Economic Reports:
Wholesale Inventories
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates. Oil. Earnings. Fed Speak. Japan.
Monday, May 9, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates and inflation fears.
Earnings and Fed Speak that spooks the markets.
B. Technicals negative and becoming ST oversold.
2. Up (Positive)
B. Possible positive scenarios
B. Technicals: MAs and pivots may provide support/resistance.
3. Sideways: (Neutral)
ADX is above 20, starting but declining and showing a negative trend.
Conclusion based on Friday, May 6, 2022
Overview:
The SPX is negative.
Short-Term:
Negative and becoming oversold.
Intermediate-Term:
Negative
Oscillators: Negative and below important MAs.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
[email protected]