Daily Video Update for Thursday, June 2, 2022.

Each day the market is open, a video is prepared which analyzes and evaluates current conditions of the S&P 500.
My Exclusive Free Workshop: The Four P's of Building a Successful Investing Program → https://spxinvesting.mailchimpsites.com
Free Stock Market Course: https://youtu.be/Bl8XZh1t3DI
Blog: https://spxinvestingblog.com
Facebook Private Group: https://www.facebook.com/groups/667271964721864
https://www.currentmarketvaluation.com/
Chapters:
00:00 Introduction, Overview, and Announcements
01:04 Recap
06:00 Sentiment
10:00 Inflation
11:53 Sectors
12:30 Technical Alerts
12:52 Intraday and Daily Charts
13:54 Technical Overview
14:12 Trend Analysis
14:43 Breadth Analysis
16:20 Short Term Analysis
17:18 Intermediate Term Analysis
19:12 Chart Variations
19:32 Trading Systems
19:48 Long Term Analysis
20:15 Broad Market Stocks
20:28 Broad Market Other Markets
21:26 Bonds
22:04 Possible Positive Scenarios
23:22 Outlook
24:54 Scenarios
26:01 Conclusion

Daily Video Update
For Thursday June 2, 2022
Recap 1: Wednesday, June 1, 2022
Open
Quiet and sideways Open.
Selling picked up after the ISM Manufacturing Index was released which was higher than expected.
Prices fell to S1 (4102) but could not build a support base to rebound.
Midday:
Prices fell to almost S2 (4072) before climbing back above S1 and almost to the UNCH level.
Close
Selling at the Close took prices back to S1.
Down: -0.75%
Volume:
Below average
Fixation:
Technicals, inflation & interest rates (growth concerns), geopolitical concerns, earnings.
Recap 2: Wednesday, June 1, 2022
Market Comments:
Closed near yesterday’s low.
Small Caps down less than the S&P 500.
Comments from JPMorgan Chase CEO Dimon, warned about an approaching "economic hurricane."
Are we working-off the ST OB condition before going higher?
Gas is still spiking.
Fear is no longer extreme.
S&P 500 is in correction territory.
Technical indicators are “holding up” with some improving.
Economic Reports:
The ISM Manufacturing Index increased to 56.1% (expected 54.9%) from 55.4%. Above 50.0% shows expansion.
Construction spending increased 0.2% m/m (expected 0.6%) but was up 12.3% y/y.
Job openings decreased to 11.400 million.
The IHS Markit Manufacturing PMI fell to 57.0 from 57.5 in the preliminary reading.
The weekly MBA Mortgage Index fell 2.3% after falling 1.2% last week.
Trend Condition:
Trend: Negative (weakening and crossing positive). Bias (Mixed/Negative). Momentum (Mixed).
The Day’s Session
Sentiment
Inflation
Valuation
SPX Sectors
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Thursday, June 2, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Thursday, June 2, 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
Thursday, June 2, 2022 Outlook
Technicals: Turning positive and working-off the ST OB condition.
Sentiment remains negative.
Growth vs Value battle
Economic Reports:
ADP Employment Change, weekly jobless claims, revised Q1 Productivity and Unit Labor Costs, and Factory Orders.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates (growth concerns). Oil. Earnings. Fed Speak & Policy. Japan.
Thursday, June 2, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates, inflation fears, growth concerns, earnings, Fed Speak & policy, Fear. The recent trend of selling into strength.
B. Technicals are still negative but turning positive.
2. Up (Positive)
A. The technicals are turning positive. Sentiment is negative.
B. Possible positive scenarios.
Coppock Curve and Pring Bottom Fisher have turned up. Staples spike is looking more viable. The Mass Index has triggered a signal. Have 2 Year Yields topped? Fed Pivot?
C. Technicals: Pivots, ST MAs, fib retracements, and previous levels may provide S/R.
3. Sideways: (Neutral)
ADX is above 20 and showing a negative trend.
Conclusion based on Wednesday, June 1, 2022
Overview:
The SPX could be turning positive.
Short-Term:
Turning positive but possibly still overbought.
Intermediate-Term:
Negative but turning positive.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com