Prior Trading Day Summary
On Thu May 21 2026 oil prices declined slightly but enough for investors to buy stocks.
The S&P rose 12 points closing at 7445. Volume was unchanged at 5.5 billion but by the close rising stocks came in at 52%, a large decline from yesterday’s 74%.
The NASDAQ rose 22 points to close at 26,293. Volume dipped to 8.9 billion. Into the close 59% of all stocks on the index were rising.
NVIDIA Stock (NVDA) spent the majority of the day falling and ended the day down $3.96 at $219.51. We could see a bounce attempt today in the stock.
Walmart stock ended the day down 7.2% at $121.34 as earnings indicated the consumer is seeing spending pressure.
Let’s review the closing technical indicators from Thu May 21 2026 to see what they predict for Fri May 22 2026.
Stock Market Outlook: SPX Closing Chart For Thu May 21 2026
The index closed above all major moving averages but below the Upper Bollinger Band. This is bearish.
The closing candlestick is bullish for Friday but there is a shadow on the candlestick which signals that dips today are likely.
The 21 day moving average is rising and closed at 7310. This is bullish.
The 50 day moving average is rising and closed at 6971. This is bullish.
The 100 day moving average is rising and closed at 6965. Thit is bullish.
The 200 day moving average is rising and closed at 6759. This is bullish.
The Lower Bollinger Band is climbing which is bearish at present. The Upper Bollinger Band is climbing which is bullish.
The SPX chart is more bullish than bearish for Friday.
SPX Stock Market Outlook review of Thu May 21 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising. This is bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Tue May 19 2026. On Thu May 21 2026 the down signal was stronger.
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Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
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Slow Stochastic: The Slow Stochastic has an up signal in place.
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Relative Strength Index: The RSI signal is rising which is bullish.
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| Rate of Change: The rate of change is falling and signaling a lower 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 |
| 7500 is resistance |
| 7450 is resistance |
| 7425 is resistance |
| 7400 is resistance |
| 7370 is resistance |
| 7350 is resistance |
| 7280 is resistance |
| 7250 is resistance |
| 7230 is resistance |
| 7200 is resistance |
| 7190 is resistance |
| 7175 is resistance |
| 7150 is support |
| 7125 is support |
| 7100 is support |
| 7050 is support |
| 7000 is support |
| 6950 is support |
| 6900 is support |
| 6875 is support |
| 6850 is support |
| 6800 is support |
Stock Market Outlook for Fri May 22 2026
For Friday the SPX will see some dips today. Some of these could be a bit deeper than expected but the close will be mixed with a bias still to the upside. However oil prices could impact stocks today if they rise as anticipated.
Expecta choppy day with a number of dips but a close either just above Thursday’s close and just below it.
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Potential Economic and Political Market Moving Events
Monday:
No reports are expected
Tuesday:
10:00 Pending home sales were better than estimated coming in at 1.4%
Wednesday:
2:00 Minutes of Fed’s May FOMC meeting
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims were slightly lower than estimated at 209,000
8:30 Housing starts were better than estimated for April, coming in at 1.44 million
8:30 Building permits for April were better than estimated, coming in at 1.44 million
9:45 S&P flash services PMI was lower than estimated, coming in at 50.9
9:45 S&P flash manufacturing PMI came in higher than estimated at 55.3
Friday:
10:00 Consumer sentiment is estimated to remain unchanged at 48.2
10:00 Leading economic indicators are estimated to rise slightly to -0.3%