Prior Trading Day Summary
On Tue Aug 11 2026 stocks continued to see light selling pressure as investors wait for more information on the Strait of Hormuz reopening and the latest CPI numbers today before the open.
The SPX ended the day down 25 points to close at 7728. Volume was lighter at 4.8 billion shares with 53% of all trading volume advancing and 50% of stocks rising by the close which was a better showing than we saw on Monday.
The NASDAQ fell 159 points ending the day at 26,445. Volume was low at 8 billion shares traded. By the close 65% of all volume was advancing along with 54% of stocks despite the index closing lower.
Let’s review the technical indicators from the close of Tue Aug 11 2026 to see what they predict for Wed Aug 12 2026.
Stock Market Outlook: SPX Closing Chart For Tue Aug 11 2026
The index ended the day just below the Upper Bollinger Band for a second day who inch is bearish.
The closing candlestick is bearish for Wednesday.
The 21 day moving average is rising and closed at 7546. This is bullish.
The 50 day moving average is rising and closed at 7500. This is bullish.
The 100 day moving average is rising and closed at 7333. This is bullish.
The 200 day moving average is rising and closed at 7081. 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 still more bullish than bearish for Wedneaday.
SPX Stock Market Outlook review of Tue Aug 11 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling 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 weaker on Tue Aug 11 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 rising which is bullish. It is signaling Wednesday 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 |
| 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 Wed Aug 12 2026
For Wed Aug 12 2026 the morning Consumer Price Index numbers from July will be the primary focus for investors. WHile many analysts believe the numb ere will be stronger than estimated and will be another reason for the Fed to raise interest rates, there are other signs in the economy that show inflation may be easing and the need for a rate increase is declining.
The day hinges on the CPI reports and we should know before the open how the initial reaction will be. Overall though, stocks are still bullish although the outlook has become more mixed that last week. Many of the technical indicators which were bullish have turned bearish. We should have a better idea after Wednesday’s close how the rest of the week will be for stocks. On Thursday we get the latest PPI numbers. If they show a rise in percentages, this will be inflationary.
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
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims are estimated to rise to 204,000
8:30 Producer Price Index for July is expected to jump 0.2% from -0.3%
8:30 PPI Year-over-year is expected to rise to 5.6% from 5.5%