Prior Trading Day Summary
Any investor who does not believe markets always have some manipulation just had to look at Thursday’s jump. With stocks struggling under rising oil and bond yields for the past several days, all it took was Fed Reserve Governor Waller to announced his support for not raising interest rates in September to revive stocks. This year like many other years has seen its fair share of market moving comments both up and down. Thursday’s gain is a clear example.
The SPX rose 81 points to close at 7747 on volume of 4.9 billion. By the close 58% of stocks were rising as the SPX turned positive on the week.
The NASDAQ rose 366 points to end the day at 26584. Volume was 7.8 billion with 61% of all stocks rising into the close. Thursday’s rally also turned the NASDAQ positive.
Let’s review the SPX closing technical indicators from Thu Sep 3 2026 to see what they predict for Fri Sep 4 2026.
Stock Market Outlook: SPX Closing Chart For Thu Sep 3 2026
The index ended the day below the Upper Bollinger Band and above the 21 day moving average. This is bullish.
The closing candlestick is bullish for Friday with a small shadow which signals dips are likely but they will be shallow.
The 21 day moving average is rising and closed at 7710. This is bullish.
The 50 day moving average is rising and closed at 7584. This is bullish.
The 100 day moving average is rising and closed at 7439. This is bullish.
The 200 day moving average is unchanged and closed at 7169. This is neutral.
The Lower Bollinger Band is above the 100 day moving average and the 50 day moving average but fell back toward the 50 day. This is still bearish. The Upper Bollinger Band is now trending sideways which is bearish. Signals are advising stocks are in a Bollinger Bands Squeeze and set to fall lower. Thursday’s bounce may have changed that or delayed any further downturn for the present.
The SPX chart is more mixed than bullish or bearish.
SPX Stock Market Outlook review of Thu Sep 3 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive. This is bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an down signal on Thu Aug 20 2026. On Thu Sep 3 2026 the down signal lost strength.
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Ultimate Oscillator: The Ultimate Oscillator is rising and bullish.
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Slow Stochastic: The Slow Stochastic has an up signal in place which is bullish
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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 rising and 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 Sep 4 2026
For Friday the morning will be determined by the August Non-Farm Payroll Numbers. Economists are predicting 53,000 jobs were created and for the unemployment rate to remain at 4.1%. They also predict that the average hourly earnings will have risen slightly by 0.3% month over month while year’s they predict a slight decline but steady at 3%. With Fed comments yesterday sparking the rally in stocks, the numbers today will have to be pretty awful to see stocks fall. The outlook is bullish for the close today.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
9:45 Manufacturing PMI for Aug was unchanged at 53.9
10:00 ISM Report on Business Manufacturing PMI fell more than estimated to 54.6
10: Construction spending for July was lower than estimated at -0.5%
10:00 Job openings and Labor turnover for July came in as estimated at 7.3 million
Wednesday:
8:15 ADP National Employment Report for August fell more than estimated to 38,000
10:00 Factory orders for July were higher than estimated at 0.9%
2:00 Fed Beige Book
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims is estimated at 205,000
9:45 US Services PMI for August is estimated at 56.2
10:00 ISM Report on Business Services PMI is estimated unchanged at 54.1
Friday:
8:30 1August Non-Farm Payroll Numbers are expected to rise to 53,000
8:30 Unemployment rate is estimated at 4.1%
8:30 Average Hourly Earnings month to month are estimated at 0.3%
8:30 Average hourly earnings year to year is estimated at 3%