Prior Trading Day Summary
On Fri Aug 6 2026 the initial reaction from investors on the surprising loss of jobs as reported by the July Non-Farm Payroll Numbers report was negative but by 10:15 stocks had already seen the day’s low and were moving higher.
The SPX shook off the unemployment report and climbed 47 points to close at 7757. Volume was 5 billion shares traded with 64% of all stocks rising. For the week the index was up 268 points. This is the best one week showing since the second week of April when the SPX rose 309 points.
The NASDAQ rose 342 points ending the day at 26,690. Volume was low at 8.3 billion. 66% of all stocks were higher by the close. For the week the NASDAQ rose 1316 points which was also its best week since the second week of April when the index rose 1565 points.
With stocks back climbing let’s look at the closing technical indicators from Fri Aug 7 2026 to see what they are advising for the start of the second week of August.
Stock Market Outlook: SPX Closing Chart For Fri Aug 7 2026
The index ended the day at the Upper Bollinger Band which is bullish.
The closing candlestick has only two small shadows which signal dips will be short-lived on Monday.
The 21 day moving average is rising and closed at 7527. This is bullish.
The 50 day moving average is rising and closed at 7494. This is bullish.
The 100 day moving average is rising and closed at 7317. This is bullish.
The 200 day moving average is rising and closed at 7068. This is bullish.
The Lower Bollinger Band is falling and now below the 100 day moving average which is bullish. The Upper Bollinger Band is rising. The signal is bullish for stocks.
The SPX chart is bullish for Mon Aug 10 2026.
SPX Stock Market Outlook review of Fri Aug 7 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 up signal on Mon Aug 3 2026. The up signal was stronger on Fri Aug 7 2026.
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Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
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Slow Stochastic: The Slow Stochastic has a down signal in place which is bearish. It is overbought.
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Relative Strength Index: The RSI signal is rising and overbought. This is bullish.
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| Rate of Change: The rate of change is falling which is bearish. It is signaling Monday will end lower. 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 resistance |
| 7450 is resistance |
| 7425 is resistance |
| 7400 is support |
| 7370 is support |
| 7350 is support |
| 7300 is support |
| 7280 is support |
| 7250 is support |
| 7200 is support |
Stock Market Outlook for Mon Aug 10 2026
For Monday any dips will be short-lived and are opportunities that investors may try to setup trades in.
The outlook is bullish although the morning might be a bit choppy. The close will be higher on Monday despite the July jobs report.
Potential Economic and Political Market Moving Events
Monday:
No events