Prior Trading Day Summary
On Tue Apr 21 2026 stocks held up well in the early morning but saw more selling pressure until by the close the selling picked up in the final half hour and the indexes closed at the lows of the day.
The SPX fell 45 points to close just below 7100 at 7064. 70% of all stocks were falling by the close.
The NASDAQ fell back 144 points to close at 24,259 with 70% of stocks on the index falling.
Let’s review the closing technical indicators from Tue Apr 21 2026, to see what they predict for Wed Apr 22 2026.
Stock Market Outlook: SPX Closing Chart For Tue Apr 21 2026
The index closed above all major moving averages but inside the Upper Bollinger Band for a second day. This is still bullish.
The closing candlestick is bearish for Wednesday with a chance for dips and lower close.
The 21 day moving average is rising sharply and closed at 6736. This is bullish
The 50 day moving average is rising and closed at 6778. This is bullish.
The 100 day moving average is rising and closed at 6771. This is bullish.
The 200 day moving average is rising and closed at 6623. This is bullish.
The Lower Bollinger Band is turning higher signals the high momentum rally is ending. The Upper Bollinger Band is rising which is bullish. The 50 day moving average is rising but the 100 day is moving higher quickly and may cross above the 50 day. This will be a bearish sign unless the 50 day continues to climb.
The SPX chart is still bullish but with signs of stocks being overbought. For Wednesday the bulls are still very much in charge and just a bit of good news from the Iran conflict will be enough to propel stocks back toward 7150.
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive. This is bullish as the overbought condition begins to erode.
|
MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Fri Apr 7 2026. On Tue Apr 21 2026 the up signal lost a bit of strength.
|
Ultimate Oscillator: The Ultimate Oscillator is falling.
|
Slow Stochastic: The Slow Stochastic has a down signal in place. It is extremely overbought. It is at levels where a pullback should be expected.
|
Relative Strength Index: The RSI signal is falling and overbought.
|
| Rate of Change: The rate of change is rising and signaling a higher day 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 |
| 7125 is resistance |
| 7100 is resistance |
| 7050 is resistance |
| 7000 is resistance |
| 6950 is resistance |
| 6900 is resistance |
| 6850 is resistance |
| 6830 is resistance |
| 6800 is support |
| 6780 is support |
| 6750 is support |
| 6735 is support |
| 6700 is support |
| 6675 is support |
| 6650 is support |
| 6625 is support |
| 6600 is support |
| 6585 is support |
| 6550 is support |
| 6500 is support |
Stock Market Outlook for Wed Apr 22 2026
While stocks are overbought, the past two days of some weakness has helped and the index could try again to push higher and possibility take the 7150 level. The SPX just needs a spark to resume the rally. News of a continuation of the ceasefire may be enough to swing the outlook back to higher on Wednesday.
On Tuesday the economic reports all surprised analysts as they beat estimates signaling the market is alive and doing well.
Potential Economic and Political Market Moving Events
Monday:
No reports scheduled
Tuesday:
8:30 Retail sales rose more than expected by 1.7% surprising analysts
10:00 Business inventories rose more than estimated to 0.4% also surprising analysts
10:00 Pending home sales jumped to 1.5%, far above estimates.
Wednesday:
No reports scheduled