Prior Trading Day Summary
On Tuesday stocks continued their recovery with the SPX reaching the 100 day and then closing just below it. BY the end of the day the SPX had recovered all but 30 points on the loss for the first week of November.
The S&P closed up 173 points to end the day at 7550. Volume rose 100 million shares to to 5.9 billion, a good sign for the bulls. 76% of all volume was rising 79% of all stocks closed higher, an impressive bounce.
The NASDAQ rose 673 points. The index closed at 25,253. Volume dropped to 9.5 billion shares traded. 74% of all volume was being traded higher and 75% of stocks were climbing by the close.
Overall Monday was a stronger day for investors with more buying volume.
Let’s review the closing technical indicators from Mon Nov 9 2026 to see how Tuesday may end up.
Stock Market Outlook: SPX Closing Chart For Mon Nov 9 2026
The index ended the day below the Upper Bollinger Band and the 21, 50 and 100 day moving averages but it reached the 100 day and closed just below it. This is bullish.
The closing candlestick is indicating that Monday will end higher with some weakness possible in the morning.
The 21 day moving average is falling and closed at 7652. It is below the 50 day moving average. This is bearish.
The 50 day moving average is falling and closed at 7676. This is bearish.
The 100 day moving average is falling and closed at 7576. This is bearish.
The 200 day moving average is rising and closed at 7362. This is bullish.
The Lower Bollinger Band is below the 21, 50 100 day moving averages. It is turning sideways. This is bullish. The Upper Bollinger Band is dipping which is bearish.
The SPX chart is still bearish but there are bullish signals gaining strength. Today should end higher.
SPX Stock Market Outlook review of Mon Nov 9 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum isr ising and negative. This is bearish. Readings are at oversold levels.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Thu Oct 15 2026. The down signal was weaker on Mon Nov 9 2026.
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Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
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Slow Stochastic: The Slow Stochastic has a weak down signal in place which is bearish. It is also at oversold readings.
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Relative Strength Index: The RSI signal is rising and bullish.
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| Rate of Change: The rate of change is rising. It is signaling Tuesday will end higher. 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 |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is support |
| 7400 is support |
| 7300 is support |
| 7250 is support |
Stock Market Outlook for Tue Nov 10 2026
After the rally again on Monday, the SPX chart is back bullish. It does signal that we could see some weakness today, probably in the morning, but the close should be higher.
Monday was all about the SPY and Jensen Huang the CEO of NVIDIA (NVDA). The stock market rally was mentioned by media outlets but the focus was all about the SPY Affair. The media loves this kind of issue and all the audience they can draw in. But for investors the question is whether NVIDIA Stock (NVDA) can still be held or traded. I discuss that in today’s morning Investing Strategy Notes.
We get the latest Consumer Price Index numbers from October. If they are in-line with estimates I do not expect them to affect stocks but if they are higher, we could see some weakness.
For Tue Nov 10 2026 watch for stocks to dip but end higher on the day.
Potential Economic and Political Market Moving Events
Monday:
10:00 Monthly Wholesale Trade for Sep was higher than estimated at 0.7%
Tuesday:
8:30 Consumer Price Index (CPI) for October is estimated to have fallen to 0.3% from 0.6% prior
8:30 Core CPI for Oct is estimated to have fallen to 0.2% from 0.3% prior
8:30 CPI Year-Over-Year for Oct is estimated to rise to 3.9% from 3.7% prior
8:30 CPI Core year-over-year for Oct is estimated to rise slightly to 2.7% from 2.6% prior