Prior Trading Day Summary
On Tue Sep 1 2026 stocks moved lower from the open of trading as oil prices rose further stoking fears of higher inflation and the specter of higher interest rates.
The SPX fell 54 points to close at 7631 on volume of 5 billion a decline of 500 million shares traded on Monday. By the close 68% of stocks were falling an increase of 5% from Monday’s close.
The NASDAQ lost 271 points to end the day at 26099. Volume was low at 6.9 billion with 71% of all stocks declining by the close. This is a jump from Monday’s close which saw 58% of all stocks falling.
Let’s review the SPX closing technical indicators from Tue Sep 1 2026 to see what they predict for Wed Sep 2 2026.
Stock Market Outlook: SPX Closing Chart For Tue Sep 1 2026
The index ended the day below the Upper Bollinger Band and below the 21 day moving average. It closed at the Lower Bollinger Band. This is bearish.
The closing candlestick is bearish for Wednesday with strong suggestions a bounce could occur at any time.
The 21 day moving average is rising and closed at 7712. This is bullish.
The 50 day moving average is rising and closed at 7570. This is bullish.
The 100 day moving average is rising and closed at 7429. This is bullish.
The 200 day moving average is rising and closed at 7169. This is bullish.
The Lower Bollinger Band is above the 100 day moving average and the 50 day moving average which is bearish. The Upper Bollinger Band is falling which is bearish. Signals are advising stocks are in a Bollinger Bands Squeeze and set to fall lower.
The SPX chart is more bearish than bullish.
SPX Stock Market Outlook review of Tue Sep 1 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and negative. This is bearish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an down signal on Thu Aug 20 2026. On Tue Sep 1 2026 the down signal gained strength.
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Ultimate Oscillator: The Ultimate Oscillator is falling and bearish.
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Slow Stochastic: The Slow Stochastic has a down signal in place which is bearish.
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Relative Strength Index: The RSI signal is falling which is bearish. It is heading into oversold levels.
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| Rate of Change: The rate of change is falling and signaling that 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 |
| 7590 is resistance |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is support |
| 7450 is support |
| 7425 is support |
| 7400 is support |
Stock Market Outlook for Wed Sep 2 2026
In the Stock Market Outlook for the past couple of weeks I have mentioned that the 7500 level in the SPX has better strength than almost any level above it. Stocks are continuing to have trouble and the SPX closed at 7631, just 130 points above the important 7500 level. Stocks today though are set to try to bounce as all the technical indicators are negative. Normally that’s a signal that stocks will bounce. The market just needs a boost and for now there is no clear signal of a boost. That means any rally will fail today and the index will close either flat or lower. The SPX is also in a Bollinger Bands Squeeze and the outlook is for stocks to move lower, as they leave the Bollinger Bands Squeeze. There are no reports on Wednesday that I expect will move markets.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
9:45 Manufacturing PMI for Aug is estimated to slip to 53.5 from 53.9 prior
10:00 ISM Report on Business Manufacturing PMI is estimated to fall to 55.3 from 55.6 prior
10: Construction spending for July is expected to come in at 0%
10:00 Job openings and Labor turnover for July is expected to slip to 7.3 million from 7.4 million prior
Wednesday:
8:15 ADP National Employment Report for August is estimated to rise to 47,000 from 44,000 prior
10:00 Factory orders for July are estimated to rise to 0.7% from -0.3% prior
2:00 Fed Beige Book