Prior Trading Day Summary
On Fri May 22 2026 oil prices dipped again which helped push stock prices higher for a third straight day. Ahead of the long Memorial Day Weekend, trading volume was lower which assisted the bulls.
The S&P rose 27 points closing at 7473. Volume fell to 5.0 billion and by the close 56% of all stocks were rising. For the week the SPX was up 65 points but on lower average volume of 5.4 billion.
The NASDAQ rose 50 points to close at 26,343. Volume on the NASDAQ rose to 9.5 billion as investors continued to look through tech stocks that fell earlier in the week. Into the close 53% of all stocks on the index were rising. For the week, the NASDAQ was up 118 points but on lower average volume of 9.7 billion.
NVIDIA Stock (NVDA) spent Friday falling again and ended the day down $4.18 at $215.33. The weakness is finding ready buyers. I expect the stock will move higher this week.
Walmart stock lost just $1.07 on Friday after falling 7.2% on Thursday. The stock ended the day at $120.27. This could be the end of the selling for now on Walmart stock following their latest earnings release.
Let’s review the closing technical indicators from Fri May 22 2026 to see what they predict for the start of the final week of May 2026.
Final Day Of Memorial Day Weekend Membership Discounts
Tue May 26 2026 is the final day of the Memorial Day Weekend special for new members and for existing members seeking to renew at deep discounts. Discounts up to $300 are available but disappear after midnight on May 26. Here are the details.
Stock Market Outlook: SPX Closing Chart For Fri May 22 2026
The index closed above all major moving averages and came close to the Upper Bollinger Band intraday. This is bullish.
The closing candlestick is bullish for Tuesday with along shadow indicating some volatility and probably a bounce on Tuesday.
The 21 day moving average is rising and closed at 7328. This is bullish.
The 50 day moving average is rising and closed at 6987. This is bullish.
The 100 day moving average is rising and closed at 6975. Thit is bullish.
The 200 day moving average is rising and closed at 6767. This is bullish.
The Lower Bollinger Band is climbing which is now bullish at present. The Upper Bollinger Band is climbing which is bullish.
The SPX chart is more bullish than bearish for Tuesday.
SPX Stock Market Outlook review of Fri May 22 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 a down signal on Tue May 19 2026. On Fri May 22 2026 the down signal continued to gain strength.
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Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
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Slow Stochastic: The Slow Stochastic has an up signal in place.
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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 rising and signaling a higher 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 |
| 7550 is resistance |
| 7500 is resistance |
| 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 support |
| 7150 is support |
| 7125 is support |
| 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 Tue May 26 2026
For Tuesday the SPX has a good chance for a bounce especially with oil prices dipping lower. A higher close is also likely. If oil prices rise however, the higher close will be in jeopardy.
Potential Economic and Political Market Moving Events
Monday:
Memorial Day holiday
Tuesday:
9:00 S&P Case-Shiller home price index is estimated to remain unchanged at .9%
10:00 Consumer confidence is estimated to dip to 92 from 92.8