Daily Video Update for Friday, June 10, 2022. Executive Summary

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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S&P 500 Notes: Thursday, June 9, 2022
SPX down -2.38% on below average volume.
Equity P/C Ratio and 5 SMA moved higher
Prices falling below ST Rainbow Chart
SPX lost LT support level
MA Study weakening
A/D Line weakening
STO weakening
A/D Ratio weakening
SPX below 20 MAs
ROC 1/5/50 Extreme negative
McClellan Oscillator and Summation Index are negative
Mom positive but ST Oscillators getting weaker
SAR still positive
Stoch no longer extreme and neg
LT MA Study weakening
NHNL pos but weakening
Force Index negative
Ultimate Oscillator negative
Heikin-Ashi and Kagi negative
Dropping below ST fib level at 4020
%B and RSI 9/14 turned negative
A/D Line 1-day extreme neg
PMO Studies turning negative
SPX dropped below last week’s low
Trend Condition:
Trend: Negative (Non-trending). Bias (negative). Momentum (negative).
Interest Rates
The Impact on Stocks
Possible Positive Scenarios
Technical Overview
Friday, June 10, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Friday, June 10, 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.
Friday, June 10, 2022 Outlook
Technicals: Weakening
Sentiment remains negative.
Growth vs Value battle
Economic Reports:
CPI, Consumer Sentiment, and the Treasury Budget.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates (growth concerns). Oil. Earnings. Fed Speak & Policy. Japan.
Friday, June 10, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates, inflation fears, growth concerns, earnings, Fed Speak & policy, Fear. Rising 2-year yield.
B. The technicals are weakening.
2. Up (Positive)
A. The technicals need to improve. Sentiment is negative. Disbelief.
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? (NO!) Fed Pivot? (Hawkish)
C. Technicals: Pivots, fib retracements, and previous levels may provide S/R.
3. Sideways: (Neutral)
ADX is below 20 and negative.
Conclusion based on Thursday, June 9, 2022
Overview:
The SPX is negative.
Short-Term:
Negative
Intermediate-Term:
Negative
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
[email protected]