Daily Video Update for Wednesday, June 8, 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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https://www.currentmarketvaluation.com/
Chapters:
00:00 Introduction, Overview, and Announcements
01:23 Recap
05:26 Sentiment
11:00 Inflation
12:45 Current Market Valuation
15:06 Sectors
16:06 Technical Alerts
16:31 Interest Rates Impact on Stocks
23:05 Intraday and Daily Charts
24:22 Technical Overview
24:40 Trend Analysis
25:32 Breadth Analysis
26:52 Short Term Analysis
28:06 Intermediate Term Analysis
29:42 Chart Variations
29:56 Trading Systems
30:13 Long Term Analysis
31:01 Broad Market Stocks
31:47 Broad Market Other Markets
33:44 Bonds
34:39 Possible Positive Scenarios
35:39 Outlook
36:44 Scenarios
38:09 Conclusion

Daily Video Update
For Wednesday June 8, 2022
Recap 1: Tuesday, June 7, 2022
Open
Gap lower Open to S1 (4097).
Built a base before climbing to the Daily Pivot (4133).
Midday:
Selling entered to take prices negative.
Buying took prices back positive and above the Daily Pivot.
Close
Late day buying took prices above R1(4157). Closed almost at the high.
Up: 0.95%
Volume:
Below average
Fixation:
Technicals, inflation & interest rates (growth concerns), geopolitical concerns, earnings.
Recap 2: Tuesday, June 7, 2022
Market Comments:
Australia raised interest rates 0.5% when 0.25% was expected which shocked the markets.
Gas prices are the top news story as it spikes.
Oil up over $119
Fear is high but not extreme.
Economic Reports:
The trade deficit narrowed to $87.1 billion (expected -89.6 billion) due to supply chain issues.
Consumer credit increased by $38.0 billion (expected $34.0 billion).
Trend Condition:
Trend: Positive (Non-trending). Bias (Mixed/positive). Momentum (Mixed).

The Day’s Session
Sentiment
Inflation
Current Market Valuation
https://www.currentmarketvaluation.com/
Valuation
SPX Sectors
Technical Alerts
Interest Rates
The Impact on Stocks
Intraday
10-Minute Chart
Technical Overview
Wednesday, June 7, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Wednesday, June 8, 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
Wednesday, June 8, 2022 Outlook
Technicals: Holding up.
Sentiment remains negative.
Growth vs Value battle
Economic Reports:
The MBA's Weekly Mortgage Applications Index, Wholesale Inventories, and the EIA's Weekly Crude Oil Inventories Report.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates (growth concerns). Oil. Earnings. Fed Speak & Policy. Japan.
Wednesday, June 8, 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. Rising 2-year yield.
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 below 20 and showing a negative trend.
Conclusion based on Tuesday, June 7, 2022
Overview:
The SPX could be turning positive.
Short-Term:
Turning positive
Intermediate-Term:
Negative but possibly turning positive.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
[email protected]