Prior Trading Day Summary
On Wed Jul 22 2026 stocks slipped and the indexes closed slightly lower ahead of big earnings from Alphabet (GOOGL), Tesla (TSLA), International Business Machines (IBM), ServiceNow (NOW), Texas Instruments (TXN) and more.
Numbers were underwhelming in general and the indexes closed lower.
The SPX lost 10 points to close at 7498 on low volume of 4.9 billion. By the close 55% of stocks were falling.
The NASDAQ lost 146 points to 25,690. Volume fell to 7.7 billion shares traded. The close saw 63% of stocks falling.
Let’s review the closing technical indicators from Wed Jul 22 2026 to see what to expect for Thu Jul 23 2026.
Stock Market Outlook: SPX Closing Chart For Wed Jul 22 2026
The index ended the day above both the 21 day and 50 day moving averages which is bullish.
The closing candlestick is bearish for Thursday but with long shadows top and bottom which signals indecision on the part of investors. Dips are likely today.
The 21 day moving average is rising and closed at 7478. It is nearing the 50 day moving average.This is bearish.
The 50 day moving average is rising and closed at 7471. This is bullish.
The 100 day moving average is rising and closed at 7255. This is bullish.
The 200 day moving average is rising and closed at 7007. This is bullish.
The Lower Bollinger Band is falling. The Upper Bollinger Band is moving sideways. The Bollinger Bands Squeeze is ending but signals show stocks may dip as they move out of the Bollinger Bands Squeeze.
The SPX chart is more bearish than bullish for Thu Jul 23 2026.
SPX Stock Market Outlook review of Wed Jul 22 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 a down signal on Fri Jul 17 2026. On Wed Jul 22 2026 the down signal was unchanged.
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Ultimate Oscillator: The Ultimate Oscillator is falling which is bearish.
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Slow Stochastic: The Slow Stochastic has a weak down signal in place but we could see the down signal turn to an up signal today.
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Relative Strength Index: The RSI signal is falling which is bearish.
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| Rate of Change: The rate of change is rising which is bullish. 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 23 2026
For Thursday the market has to deal with disappointing earnings reports from Alphabet (GOOGL), Tesla (TSLA), International Business Machines (IBM) and even ServiceNow (NOW). Some stocks bounced after hours on Wednesday but we may see weakness instead today.
The outlook is for weakness to build and dips are likely. Overall though more earnings have to be released before the SPX decides whether to make new highs or pullback. Today though won’t be that day.
Potential Economic and Political Market Moving Events
Monday:
10:00 Leading indicators for Jun came in lower than estimated at -0.2%
Tuesday:
no reports issues
Wednesday:
There are no reports
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims are expect to rise to 212,000 from 208,000 prior