Daily Video Update for Monday, June 6, 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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Chapters:
00:00 Introduction, Overview, and Announcements
00:47 Recap
05:54 Sentiment
10:02 Inflation
12:45 Sectors
13:56 Technical Alerts
14:10 Intraday and Daily Charts
15:10 Technical Overview
15:28 Trend Analysis
16:09 Breadth Analysis
17:11 Short Term Analysis
18:18 Intermediate Term Analysis
20:14 Chart Variations
20:26 Trading Systems
20:44 Long Term Analysis
21:41 Broad Market Stocks
22:59 Broad Market Other Markets
24:28 Bonds
25:54 Possible Positive Scenarios
26:57 Outlook
27:58 Scenarios
29:11 Conclusion
Daily Video Update
For Monday June 6, 2022
Recap 1: Friday, June 3, 2022
Open
Gap lower Open below the Daily Pivot (4143).
Prices went sideways.
Midday:
Selling entered to take prices to below S1 (4108).
Prices spent the day above and below S1.
Close
Closed at S1
Down: -1.63%
Volume:
Below average and declining
Fixation:
Technicals, inflation & interest rates (growth concerns), geopolitical concerns, earnings.
Recap 2: Friday, June 3, 2022
Market Comments:
Elon Musk sent an email to Tesla executives with concerns about the economy.
Employment Situation Report stronger than expected.
Tech stocks hit by negative news and downgrades.
Small Caps were down but less than the S&P 500.
Technical indicators holding up.
Oil up to just under $119.
Gas is still spiking higher.
Fear is high but not extreme.
Economic Reports:
Nonfarm payrolls increased by 390,000 (expected 325,000). The Unemployment Rate remained at 3.6% (expected 3.5%). The average hourly earnings were up 0.3% (expected 0.4%). The average workweek was 34.6 hours (expected 34.6). The labor force participation rate increased to 62.3% from 62.2%. The employment-population ratio increased to 60.1% from 60.0%.
The ISM Non-Manufacturing Index decreased to 55.9% (expected 56.6%) from 57.1%.
The IHS Markit Services PMI dropped to 53.4 in the final reading from 53.5 in the preliminary reading.
Trend Condition:
Trend: Negative (weakening and crossing positive). Bias (Mixed). Momentum (Mixed).
The Day’s Session
Sentiment
Inflation
SPX Sectors
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Monday, June 6, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Monday, June 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
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
Monday, June 6, 2022 Outlook
Technicals: Holding up after having a ST OB condition.
Sentiment remains negative.
Growth vs Value battle
Economic Reports:
None
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates (growth concerns). Oil. Earnings. Fed Speak & Policy. Japan.
Monday, June 6, 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 Friday, June 3, 2022
Overview:
The SPX could be turning positive.
Short-Term:
Turning positive but recent weakness.
Intermediate-Term:
Negative but possibly turning positive.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
John@SPXInvesting.com