Daily Video Update for Thursday, June 16, 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 Wednesday June 15, 2022
Recap 1: Tuesday, June 14, 2022
Open
Slightly positive Open and buying to the Daily Pivot (3774).
Midday:
Prices drifted down to S1 (3710).
Close
Prices rebounded to almost the UNCH level.
Down: -0.38%
Volume:
Above average
Fixation:
Technicals, inflation & interest rates (growth concerns), FOMC Meeting, geopolitical concerns, earnings.
Recap 2: Tuesday, June 14, 2022
Market Comments:
Current possible Fed scenario: Increase 0.75% on Wednesday, another 0.75% increase in July, and 0.50% in September. The Fed Funds rate will be at 2.75-3.00% after the September meeting.
Fear is extreme.
Recession concerns.
Economic Reports:
The NFIB Small Business Optimism Index was at 93.1 versus 93.2 in April.
The PPI for final demand increased 0.8% m/m (expected 0.8%). The index for final demand, less foods and energy, rose 0.5% (expected 0.6%). Y/Y, the PPI for final demand was up 10.8%, versus 10.9% in April, and the index for final demand, less foods and energy, was up 8.3%, versus 8.6% in April.
Trend Condition:
Trend: Negative. Bias (Negative). Momentum (Negative).

The Day’s Session
Sentiment
Earnings
Support and Resistance
Fed Watch
Inflation
SPX Sectors
Technical Alerts
Intraday
10-Minute Chart
Technical Overview
Wednesday, June 15, 2022 Positive
Market Positives
Energy
CRB
Gold
Interest rates
Staples.
Wednesday, June 15, 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 15, 2022 Outlook
Technicals: Negative and oversold.
Sentiment is extreme.
Economic Reports:
Weekly mortgage applications report, Retail Sales, Import-Export Price Index, Empire State Manufacturing Survey, Business Inventories, NAHB Housing Market Index, FOMC Rate Decision (2:00 p.m. ET). Fed Chair Powell will hold his press conference at 2:30 p.m. ET.
Geopolitical events:
Russia/Ukraine. China/Supply Chain. Inflation & Interest rates (growth concerns). Margin calls. Oil. Earnings. Fed Speak & Policy. Japan.
Wednesday, June 15, 2022 Scenarios
1. Down (Negative)
A. Rising interest rates, inflation fears, growth concerns, earnings, Fed Speak & policy, Fear. Margin calls. FOMC reaction.
B. Technicals are negative but oversold.
2. Up (Positive)
A. The technicals are oversold. Disbelief. FOMC reaction.
B. Possible positive scenarios.
Staples spike is looking more viable(?).
C. Technicals: Pivots, ST MAs, fib retracements, and previous levels may provide S/R.
3. Sideways: (Neutral)
ADX is above 20 and negative.
Conclusion based on Tuesday, June 14, 2022
Overview:
The SPX is negative.
Short-Term:
Negative and oversold.
Intermediate-Term:
Negative and oversold.
Long-Term:
Negative: Below 200 SMA.
Thank You!
John Clay
The SPX Investing Program
[email protected]