Announcement

The Week Ahead For July 7/20 Through 7/26: It’s All About Earnings

  The Week Ahead Starting July 20, 2026 The major stock indexes were lower across the board. The S&P 500 is now in a range of 7500 to 7400 a drop from last week. The S&P 500 closed Friday at 7457.69 from 7575.39 on 7/10. All equity indexes we track are back above their Daily, Weekly…

By Geoff Garbacz | Market Rebellion · July 19, 2026

The Week Ahead Starting July 20, 2026

The major stock indexes were lower across the board. The S&P 500 is now in a range of 7500 to 7400 a drop from last week. The S&P 500 closed Friday at 7457.69 from 7575.39 on 7/10. All equity indexes we track are back above their Daily, Weekly and Monthly DMA Channels. The Dow Jones Industrial Average 14-day Choppiness index is at 62 from 49 last week and the Russell 2000 is at 57 from 61. This week the S&P 500 is now at 57 from 54 while the NASDAQ 100 is at 53 from 60. Last, the S&P 400 is at 55 from 57.

The Choppiness index ranges from 0 to 100, and the lower it gets the more a trend is evolving. The higher the choppiness index moves, the more a new trend may be starting. Usually, above 65 is where a new trend begins and below 40 is where trends typically end which is where the S&P 500 and NASDAQ 100 are now.

Below is our summary of the Current Moving Average Levels on our index tracking. There is improved action on the equity side but not on the bond side.

Moving Averages (updated through 7/17 Close)

We also track DMA Levels at major inflection points like now. We are see strength on a weekly and monthly level.

DMA Channels (updated through 7/17 Close)

We note our Erlanger Big Barf Indicator (EBB) on a daily basis is at 2.00 from 2.39 last week with Weekly and Monthly Levels see the Weekly at 10.58 from 25.01 and the Monthly is at 27.16 from 32.60. QPI Overbought/Oversold Indicator is no longer active on overbought or oversold just weeks after markets hit the oversold. Current reading is 38 from 68 last week.

Type 1s and Type 4s saw Type 1s fall by -1.85% last week and Type 4s fall by -2.60% while the overall Hedge was up 0.75%.

The top four areas facing the market in this trading week are:

Geopolitical and Fiscal Events. Watch our X (Twitter) feed Bullet86 for a last minute heads up on Federal Reserve speakers as well as Treasury auctions each day. Fed Speakers are now back in the blackout period until July 30th which is the day after the next FOMC meeting on the 29th.

Economic Releases. Monthly Releases of note this week include Leading Indicators, Global U.S. Manufacturing PMI, Global U.S. Services PMI and New Home Sales.

Earnings Releases. Nothing notable in releases this upcoming week: Earnings season has basically concluded for the first quarter earnings. Second Quarter Earnings will continue this week led by STLD WRB NVS SCHW GOOGL TSLA INTC RTX AXP NEE.
Latest Short Interest Release – The NYSE and NASDAQ released their latest short interest data two weeks ago for a collection period of June 15th to June 30th. NYSE rose by 1.78% and NASDAQ rose by 3.34%. The S&P 500 rose by 2.77% during the last reporting period. The next release date will be July 24th after the close and range from July 1st to June 15th. In that period, the S&P 500 rose by 0.97%.

Daily Alerts

Monday, July 20th

June Leading Indicators are out at 10:00 a.m. EDT and are expected to stay at 0.1%.

Tuesday, July 21st

None of note.

Wednesday, July 22nd

None of note.

Thursday, July 23th

None of note.

Friday, July 24th

Global U.S. Manufacturing Index is due out at 9:45 a.m. EDT and came in last month at 52.5.
Global U.S. Services PMI Index is due out at 9:45 a.m. EDT and came in last month at 48.80.
June New Home Sales are due out at 10:00 a.m. EDT and expected to rise to 0.30% from 0.10%.

The Week Ahead Earnings That Are 1s (Short Squeezes) or 4s (Long Squeezes):