Prior Trading Day Summary
On Wed Oct 14 2026 bank earnings from Morgan Stanley Stock (MS) and Bank Of America Stock (BAC) failed to excite any investors and both stocks plunged after earnings were released before the open. The real culprit though was the Consumer Price Index or CPI which jumped from 3.4% prior to 3.7% for September. Core CPI year-over-year rose to 2.6% from 2.4% for Sep. These CPI numbers immediately grabbed everyone’s attention as being too inflationary and stocks moved lower as a result.
The SPX lost 86 points to close at 7718. Volume jumped to 6.1 billion shares with 330 new weekly lows and 49 new highs. 68% of all volume was being traded lower and 74% of all stocks closed higher.
The NASDAQ fell 511 points to close at 26,692. Volume was higher at 9 billion shares traded. New lows rose to 692 and new highs fell to 43. 73% of all volume was being traded lower and by the close 75% of all stocks were lower.
Wednesday as you can tell from the stats above was a particularly bearish day.
Let’s review the closing technical indicators from Wed Oct 14 2026 to see what they predict for Thu Oct 15 2026.
Stock Market Outlook: SPX Closing Chart For Wed Oct 14 2026
The index ended the day below the Upper Bollinger Band but down at the 21 day and 50 daymoving averages. This is bearish.
The closing candlestick is bearish for Thursday and the closing shadows indicate a bounce is possible but won’t hold, yet.
The 21 day moving average is rising and closed at 7724. This is bullish.
The 50 day moving average is unchanged and closed at 7707. This is bullish.
The 100 day moving average is rising and closed at 7556. This is bullish.
The 200 day moving average is rising and closed at 7295. This is bullish.
The Lower Bollinger Band is below the 21 and 50 day moving average and rising which is bearish. The Upper Bollinger Band isfalling which is bearish.
The SPX chart is equally split between bull and bear scenarios for Thursday.
SPX Stock Market Outlook review of Wed Oct 14 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum isfalling and positive. This is bearish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Mon Oct 5 2026. The up signal was almost gone on Wed Oct 14 2026.
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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 and is overbought. This is bullish.
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Relative Strength Index: The RSI signal is falling sharply. This is bearish.
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| Rate of Change: The rate of change is falling, signaling that 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 |
| 7850 is resistance |
| 7825 is resistance |
| 7800 is resistance |
| 7780 is resistance |
| 7750 is resistance |
| 7700 is resistance |
| 7650 is resistance |
| 7600 is support |
| 7570 is support |
| 7550 is support |
| 7500 is support |
Stock Market Outlook for Thu Oct 15 2026
With the latest PPI numbers due out today, investors may return to selling if the numbers are stronger than expected. At the same time stocks are oversold after Thursday’s fall which makes for a chance of a bounce. I don’t think any attempt will last on Thursday and the end of the day will see stocks lower.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
6:00 NFIB Index of Small Business Optimism for Sep was lower than estimated at 97.9
10:00 Existing home sales for Sep came in as estimated at 4 million
Wednesday:
8:30 Consumer Price Index for Sep rose to 0.6% from 0.4%, higher than estimated
8:30 Core CPI month over monthwas unchanged for Sep coming in at 0.3%
8:30 CPI year-over-year for Sep rose more than estimated to 3.7% from 3.4% prior which sent stocks lower
8:30 Core CPI year over year for Sep rose to 2.6% from 2.4% prior
2:00 Fed’s Beige Book is not expected to point to anything new
2:00 Monthly Treasury Balance for Sep is estimated to rose to -29B versus -167B prior
Thursday:
8:30 Empire State Manufacturing survey for Oct is estimated at 10.3 up from 7.6 prior
8:30 Retail sales for Sep is estimated at 0.4% down from 1.2% prior
8:30 Weekly Initial Unemployment Insurance Claims for Oct 10 are estimated at 200,000 up from 197,000 prior
8:30 Producer Price Index or PPI for Sep is estimated to rise to 5.5% from 5.4% prior