Prior Trading Day Summary
On Wed Jul 15 2026 stocks climbed higher again despite chip stocks tumbling across most names in what was a broad sell-off. Some of the sell-off is a result of IBM Stock plunging on Tuesday. On Wednesday the stock lost another 2.7%.
Also on Wednesday the latest Producer Price Index (PPI) numbers came in weaker than anticipated. This boosted talk of no interest rate hikes needed in the near future.
The SPX closed up 28 points to 7572 . Trading volume was 5.3 billion with 59% of stocks on the index rising by the close. Wednesday’s gain leaves the index down just 3 points for the week.
The NASDAQ rose 162 points to end the day at 26,269. Volume was still poor at 7.6 billion shares traded. The close saw 54% of stocks rising. Wednesday’s gain leaves the index down just 12 points on the week.
Let’s review the closing technical indicators from Wed Jul 15 2026 to see what they predict for Thu Jul 16 2026.
Stock Market Outlook: SPX Closing Chart For Tue Jul 14 2026
The index ended the day above the 21 day moving average. The SPX is back at levels seen Jul 10 and Jun 2.
The closing candlestick is bullish for Wednesday with one long shadow signaling dips are likely.
The 21 day moving average is rising and closed at 7479. This is bullish.
The 50 day moving average is rising and closed at 7454. This is bullish.
The 100 day moving average is rising and closed at 7231. This is bullish.
The 200 day moving average is rising and closed at 6982. This is bullish.
The Lower Bollinger Band is falling. The Upper Bollinger Band is rising. The Bollinger Bands Squeeze is ending with a good chance stocks will move higher.
The SPX chart is more bullish than bearish for Thu Jul 16 2026 but with signals advising dips are likely.
SPX Stock Market Outlook review of Wed Jul 15 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive. This is still bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Mon Jul 6 2026. The up signal was stronger on Wed Jul 15 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 and is signaling stocks are overbought.
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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 signaling Thursday 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 |
| 7600 is resistance |
| 7590 is resistance |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is resistance |
| 7450 is resistance |
| 7425 is resistance |
| 7400 is resistance |
| 7370 is support |
| 7350 is support |
| 7300 is support |
| 7280 is support |
| 7250 is support |
| 7200 is support |
| 7175 is support |
| 7150 is support |
| 7125 is support |
| 7100 is good support |
Stock Market Outlook for Thu Jul 16 2026
For Thursday the technical signals are more bullish than bearish. A couple are showing growing strength such as the MACD technical indicator which is a fairly accurate indicator on market direction.
FWith stocks moving higher on Wednesday they have recovered almost all of Monday’s loss. This has set the indexes up for a move still higher although the closing candlestick is flashing a warning that a dip or dips may occur on Thursday. The close though will be higher.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
8:30 Consumer Price Index for June came in lower than estimated at -0.4%
8:30 CPI Year-over-year came in lower than estimated at 3.5%
8:30 Core CPI came in lower than estimated at 2.6%
10:00 Fed Chair Kevin Warsh is at the House Financial Services Committee
Wednesday:
8:30 PPI for June was lower than estimated coming in at -0.8%
8:30 Personal consumption for June was a lot lower than estimated coming in at 0.2%
10:00 Fed Chair Kevin Warsh is testifying at Senate Banking Committee
2:00 Federal Beige Book gave no new information not previously known
Thursday:
8:30 Retail sales for June are estimated at 0.2% down from 0.9% prior
8:30 Weekly Initial Unemployment Insurance Claims for Jul 11 are estimated at 218,000 p by 3,000 over last week’s numbers
10:00 Pending home sales for Jun are estimated to have fallen to 0% from 3.8% prior