Prior Trading Day Summary
On Tue Nov 10 2026 with NVIDIA Stock (NVDA) continuing to fall investors took profits after the latest inflation numbers came in much hotter than estimated.
The S&P closed down 29 points for a mild loss, ending the day at 7520 for a second day back above 7500.
The NASDAQ fell 187 points to close at 25,065. None of the signs on Tuesday pointed to a resumption of last week’s selling.
Let’s review the closing technical indicators from Tue Nov 10 2026 to see the outlook for Wed Nov 11 2026.
Stock Market Outlook: SPX Closing Chart For Tue Nov 10 2026
The index ended the day below the Upper Bollinger Band and the 21, 50 and 100 day moving averages but it stayed above the 200 day. This is bullish.
The closing candlestick is indicating that Wednesday will see another bounce attempt and a close higher than Tuesday’s close.
The 21 day moving average is falling and closed at 7639. It is below the 50 day moving average. This is bearish.
The 50 day moving average is falling and closed at 7672. This is bearish.
The 100 day moving average is falling and closed at 7575. This is bearish.
The 200 day moving average is rising and closed at 7365. This is bullish.
The Lower Bollinger Band is below all major moving averages. The break of the 200 day is a bearish signal. The Upper Bollinger Band is falling which is bearish.
The SPX chart is more bearish than bullish for Wednesday.
SPX Stock Market Outlook review of Tue Nov 10 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum isr ising and negative. This is bearish. Readings are at oversold levels.
|
MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Thu Oct 15 2026. The down signal was weaker on Tue Nov 10 2026.
|
Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
|
Slow Stochastic: The Slow Stochastic has a weak up signal in place which is bullish. It is at oversold levels.
|
Relative Strength Index: The RSI signal is falling and bearish.
|
| Rate of Change: The rate of change is falling. It is signaling Wednesday 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 |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is support |
| 7400 is support |
| 7300 is support |
| 7250 is support |
Stock Market Outlook for Wed Nov 11 2026
The inflation numbers on Tuesday were higher than estimated but not a huge jump. The media made more about the inflation numbers than most investors. Still, the day saw a parade of Fed officials discussing another rate hike for December including a possible half point rate hike although at present, analysts believe that is not likely.
Volume in NVIDIA Stock (NVDA) showed a lot of buying at lower levels was taking place today. After hours the stock rose. If NVIDIA Stock (NVDA) rises today, it will draw in more investors and more stocks. I expect a higher open today followed by weakness and then a higher close. The technical indicators are still strongly negative and are cautioning that stocks could fall still further. I am keeping trades smaller than usual until there are clearer signals to the upside.
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 was higher than estimated at 0.4%
8:30 Core CPI for Oct is rose to 0.3% higher than estimated
8:30 CPI Year-Over-Year for Oct was not reported due to the Oct 2025 government shut down
8:30 CPI Core year-over-year for Oct was not reported due to the Oct 2025 government shut down
Wednesday:
No reports