Prior Trading Day Summary
On Mon Aug 10 2026 stocks had a seesaw day as investors weighed the continued drama over the Strait of Hormuz and prepared for the CPI numbers due out Wednesday at 8:30. These will give the latest read on inflation. After the July Non-Farm Payroll Numbers surprised with a loss for the month, a lower CPI number would cement the arguments against the Fed raising interest rates in September.
The SPX ended the day almost flat, losing just 4 points to close at 7753. Volume was 5 billion shares with 52% of all trading volume advancing but only 38% of stocks rising by the close.
The NASDAQ slipped 85 points ending the day at 26,605. Volume was low at 7.9 billion. By the close 47% of all volume was advancing but just 39% of stocks were rising.
Let’s review the technical indicators from the close of Mon Aug 10 2026 to see what they predict for Tue Aug 11 2026.
Stock Market Outlook: SPX Closing Chart For Mon Aug 10 2026
The index ended the day just below the Upper Bollinger Band which is bullish.
The closing candlestick has a long shadow which signals a bounce is likely on Tuesday, possibly in the morning or near the open. This is bullish.
The 21 day moving average is rising and closed at 7536. This is bullish.
The 50 day moving average is rising and closed at 7498. This is bullish.
The 100 day moving average is rising and closed at 7325. This is bullish.
The 200 day moving average is rising and closed at 7075. 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 Tue Aug 11 2026.
SPX Stock Market Outlook review of Mon Aug 10 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 Mon Aug 10 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 an up signal in place which is bullish. It is overbought.
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Relative Strength Index: The RSI signal is falling and overbought. This is bearish.
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| Rate of Change: The rate of change is falling which is bearish. It is signaling Tuesday 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 Tue Aug 11 2026
For Tue Aug 11 2026 the outlook is bullish for stocks with a bounce likely in the morning. News of a $500 billion partnership with NVIDIA Stock (NVDA) and six Wall Street principal banks to build out AI infrastructure should be enough to get the market excited for the start of the day.
The bigger news for many investors will come on Wednesday before the open of trading when the latest CPI numbers are released. This will be the latest inflation reading and many investors are staying cautious ahead of those numbers as they expect a potential interest rate hike in September if the CPI numbers are higher than estimated.
For Tuesday though the outlook is for a higher close, even just slightly.
Potential Economic and Political Market Moving Events
Monday:
No events
Tuesday:
10:00 Existing Home Sales for June estimated to slip to 4.0 million from 4.1 million prior
Wednesday:
8:30 CPI for Jul estimated to rise 0.1% from -0.4% prior
8:30 Core CPI Month over month for July estimated to rise 0.2% from 0% prior
8:30 CPI Year-over-year for July estimated to slip to 3.4% from 3.5% prior
8:30 CPI Core year-over-year for July estimated to slip 2.5% from 2.6% prior