Prior Trading Day Summary
On Wed May 13 2026 stocks opened lower on the back of very strong CPI numbers. By the close however the indexes were positive and setting new highs. Momentum continues to favor the bulls but the underlying market current is showing that the majority of stocks are falling, not climbing.
The S&P gained 43 points to close at 7444. Volume rose to 5.9 billion. By the close 59% of all stocks were moving lower. This is the third day of 59% of stocks falling.
The NASDAQ rose 314 points and easily wiping out yesterday’s large loss. The NASDAQ closed at 26,402. Volume was higher at 10.1 billion bbut by the close 49% of all stocks were falling.
Let’s review the closing technical indicators from Wed May 13 2026 to see what they predict for Thu May 14 2026.
Stock Market Outlook: SPX Closing Chart For Wed May 13 2026
The index closed above all major moving averages and at the Upper Bollinger Band. This is bullish.
The closing candlestick is bullish for Thursday.
The 21 day moving average is rising sharply and closed at 7213. This is bullish.
The 50 day moving average is rising and closed at 6896. This is bullish but still below the 100 day moving average.
The 100 day moving average is rising and closed at 6907. Each day that the 100 day is above the 50 day is a sign of underlying weakness to the uptrend.
The 200 day moving average is rising and closed at 6718 This is bullish.
The Lower Bollinger Band is still climbing and closed above the 100 day moving average. This is bearish. The Upper Bollinger Band is moving higher which is bullish.
The SPX chart is more bullish than bearish for Thursday.
SPX Stock Market Outlook review of Wed May 13 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising. This is bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Fri Apr 7 2026. On Tue May 12 2026 the up signal lost strength.
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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 neutral signal in place. It is extremely overbought. It is at levels where a pullback should be expected.
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Relative Strength Index: The RSI signal is rising and is at overbought readings.
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| Rate of Change: The rate of change is falling and signaling a lower close is likely. 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 |
| 7450 is resistance |
| 7425 is resistance |
| 7400 is resistance |
| 7370 is resistance |
| 7350 is resistance |
| 7280 is resistance |
| 7250 is resistance |
| 7230 is resistance |
| 7200 is resistance |
| 7190 is resistance |
| 7175 is resistance |
| 7150 is resistance |
| 7125 is resistance |
| 7100 is support |
| 7050 is support |
| 7000 is support |
| 6950 is support |
| 6900 is support |
| 6875 is support |
| 6850 is support |
| 6800 is support |
Stock Market Outlook for Thu May 14 2026
For Thu May 14 2026 the outlook is for a lower close to start the day. Buyers though are expected to step in to take advantage of the lower day and move the markets higher.
Potential Economic and Political Market Moving Events
Monday:
10:00 Existing home sales for April came in lower than estimated at 4.02 million.
Tuesday:
8:30 The Consumer Price Index is revealed. Estimates are for a drop to 0.6% versus 0.9% prior
830: CPI year-over-year is estimated to rise to 3.8% from 3.3% prior – this will be bearish for stocks
8:30 Core CPI is estimated at 0.3% versus 0.2% prior
8:30 Core CPI year-over-year is estimated at 2.7% versus 2.6% prior
Wednesday:
8:30 Producer Price Index is released for April. Estimates are for a rate of 0.5%, unchanged from the prior month.
8:30 Core PPI is estimated at 0.3% up from 0.2% prior
8:30 PPI year-over-year is estimated to rise to 4%
8:30 Core PPI year-over-year is estimated to rise to 3.8%
Thursday:
8:30 Retail sales are expected to decline to 0.5% from 1.7% prior
8:30 Weekly Initial Unemployment Insurance Claims are estimated at 205,000.
8:30 Import price index is estimated to rise to 0.9% from 0.8% prior