Prior Trading Day Summary
On Thursday the indexes closed lower but the SPX still closed above the 7100 level.
The SPX fell 29 points to close at 7108 on 5.4 billion shares traded. 53% of all stocks were falling but there were 130 new 52 week highs and just 29 new lows which is bullish. For the week, the SPX is down 17 points.
The NASDAQ fell 219 points to close at 24,438 with 65% of stocks on the index falling. Volume fell to 8.2 billion. For the week, the NASDAQ is down 30 points.
With earnings from Intel Thursday after the close stunning analysts and investors alike, Friday looks set to start higher.
Let’s review the closing technical indicators from Thu Apr 23 2026, to see what they predict for Fri Apr 24 2026, to end the week.
Stock Market Outlook: SPX Closing Chart For Thu Apr 23 2026
The index closed above all major moving averages but inside the Upper Bollinger Band for a fourth day. This is still bullish as the candlesticks trend sideways.
The closing candlestick is bullish for Friday. There is a long shadow on the candlestick which signals dips on Friday could be deeper than anticipated, but the outlook is still higher by the close.
The 21 day moving average is rising sharply and closed at 6789. This is bullish and places the 21 day back above the 50 and 100 day moving averages. This negates the two down signals which have been removed from the SPX chart below.
The 50 day moving average is rising and closed at 6784. This is bullish.
The 100 day moving average is rising and closed at 6784. This is bullish.
The 200 day moving average is rising and closed at 6633. This is bullish.
The Lower Bollinger Band is turning higher which signals the high momentum rally is ending. The Upper Bollinger Band is rising which is bullish.
The SPX chart is more bullish than bearish and the 21 day moving average climbing above the 50 and 100 day moving averages is an excellent up signal.
SPX Stock Market Outlook review for Thu Apr 23 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive. This is bullish as the overbought condition begins to erode.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Fri Apr 7 2026. On Thu Apr 23 2026 the up signal lost more strength.
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Ultimate Oscillator: The Ultimate Oscillator is falling.
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Slow Stochastic: The Slow Stochastic has a down signal in place. It is extremely overbought. It is at levels where a pullback should be expected.
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Relative Strength Index: The RSI signal is falling and bullish.
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| Rate of Change: The rate of change is rising and signaling a higher close is likely. Settings: Rate Of Change is set for a 21 period. This indicator looks back 21 days and compares price action from the past to the present. With the Rate Of Change, prices are rising when signals are positive. Conversely, prices are falling when signals are negative. As an advance rises, the Rate Of Change signal should also rise higher, otherwise the rally is suspect. A decline should see the Rate Of Change fall into negative signals. The more negative the signals the stronger the decline. |
Stock Market Outlook: Support and Resistance Levels |
| 7150 is resistance |
| 7125 is resistance |
| 7100 is resistance |
| 7050 is resistance |
| 7000 is resistance |
| 6950 is resistance |
| 6900 is resistance |
| 6850 is resistance |
| 6830 is resistance |
| 6800 is support |
| 6780 is support |
| 6750 is support |
| 6735 is support |
| 6700 is support |
| 6675 is support |
| 6650 is support |
| 6625 is support |
| 6600 is support |
Stock Market Outlook for Fri Apr 24 2026
For Friday, the technical indicators are strongly bullish despite the index staying in an oversold condition. Eventually the oversold nature will work itself out. The 21 day moving average is back above all the other moving averages which is bullish. The two down signals in the SPX chart above are gone which is bullish as well.
Earnings from Intel on Thursday after the close were stunning. The Intel Data Center revenue came in well beyond estimates at $5.1 billion and the company indicated demand exceeds supply at present. All the Intel numbers from Wednesday’s earnings were stellar. Earnings reported were 29 cents versus 1 cent estimated. The results were hugely positive for the company and for the stock after hours. These earnings will help stocks move higher on Friday.
The technical indicators are still flashing overbought but the index is setup to close higher today.
Potential Economic and Political Market Moving Events
Monday:
No reports scheduled
Tuesday:
8:30 Retail sales rose more than expected by 1.7% surprising analysts
10:00 Business inventories rose more than estimated to 0.4% also surprising analysts
10:00 Pending home sales jumped to 1.5%, far above estimates.
Wednesday:
No reports scheduled
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims came in higher than estimated at 214,000
9:45 S&P flash services PMI rose to 51.3
9:45 S&P flash manufacturing PMI jumped to 54.0 up from 52.3 prior