Prior Trading Day Summary
On Thu Oct 1 2026 stocks sank intraday but then stages a comeback rally on good volume. All 3 indexes closed positive.
The SPX ended the day up 15 points to close at 7666. Volume rose to 5.9 billion with 56% of all volume being traded higher. New lows though rose to 394 and new highs were just 15. These are bearish numbers.
The NASDAQ ended the day higher, up 10 points to 26,871 on 7.6 billion shares traded. By the close 50% of stocks were rising on the index. New lows rose though to 524 which is a huge number of declining stocks. There were only 66 new highs. This is very bearish.
With the September Non-Farm Payroll Numbers due out on Friday at 8:30, let’s review the SPX closing technical indicators from Thu Oct 1 2026 to see what they predict for Fri Oct 2 2026.
Stock Market Outlook: SPX Closing Chart For Thu Oct 1 2026
The index ended the day below the Upper Bollinger Band and the 21 day moving average. This is bearish.
The closing candlestick is bearish but also has a long shadow which often signals a second bounce attempt following yesterday’s higher close.
The 21 day moving average is rising and closed at 7671. This is bullish.
The 50 day moving average is rising and closed at 7651. This is bullish.
The 100 day moving average is rising and closed at 7512. This is bullish.
The 200 day moving average is rising and closed at 7253. This is bullish.
The Lower Bollinger Band fell below the 100 day moving average which is bearish. The Upper Bollinger Band is falling which is bearish.
The SPX chart is more bearish that bullish for Fri Oct 2 2026 but is also signaling a huge number of stocks are oversold and a bounce could occur at any time.
SPX Stock Market Outlook review of Thu Oct 1 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive. This is bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Wed Sep 30 2026. The down signal was confirmed on Thu Oct 1 2026..
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Ultimate Oscillator: The Ultimate Oscillator is falling. This is bearish.
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Slow Stochastic: The Slow Stochastic has a down signal in place and is bearish.
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Relative Strength Index: The RSI signal is rising. This is bullish.
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| Rate of Change: The rate of change is rising, signaling that Friday will end higher. 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 |
| 7800 is resistance |
| 7780 is resistance |
| 7750 is resistance |
| 7700 is resistance |
| 7650 is resistance |
| 7600 is resistance |
| 7590 is resistance |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is support |
| 7450 is support |
| 7425 is support |
| 7400 is support |
Stock Market Outlook for Fri Oct 2 2026
The morning today will be all about the September jobs numbers. If they are close to estimates of 84,000, watch for stocks to rally but if they widely miss, stocks will end the day lower.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
10:00 Conference Board Consumer confidence for Sep fell far more than estimated coming in at 81.9 versus 89 estimated
10:00 Job openings and Labor Turnover Survey for Aug was lower than estimated, coming in at 7.1 million
Wednesday:
8:15 ADP National Employment Report for Sep was way above estimated at 90,000
8:30 AM 3rd estimate GDP for the second quarterwas also well above estimates at 2.2%
8:30 Personal Income, month over month for August was below estimates at 0.2%
8:30 Consumer Spending for August was well above estimates coming in at 0.9%
8:30 PCE Price Iindex month over month for August came in as estimated at 0.3%
8:30 PCE Price Index year-over-year for August was lower than estimated coming in at 3.4%
8:30 PCE Core Price IIndex month over month for August was weaker than estimated, coming in at 0.2%
8:30 PCE Core Price Index year-over-year for August was well below estimates at 3%
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims for Sep 26 were below estimates coming in at 197,000 and matching the prior week.
9:45 Manufacturing ISM for Sept was below estimates, coming in at 54.5
10:00 Construction spending for August was better than estimated, rising 0.9%
Friday:
8:30 Sept Non-Farm Payroll Numbers are estimated at 84,000 down from 162,000 prior
8:30 Unemployment rate is estimated unchanged at 4.1%
8:30 Average hour earnings month over month are estimated to remain unchanged at 0.3%
8:30 Average hourly earnings year-over-year are estimated to rise to 3.2% from 3.1% prior