Day-Trading Scenarios for Jul 22, 2026

Oversold bounce tests resistance.

Yesterday's Recap (Tuesday, July 21)

The Dow staged a solid rebound from Monday's selloff, gaining 384 points (+0.74%) to close at 52,223, led by 3M (+7.60%), UnitedHealth (+3.39%), and Caterpillar (+2.91%), while Boeing (-2.25%), Sherwin-Williams (-1.87%), and Alphabet (-1.64%) lagged. The broader move was driven by a chip-stock revival, with Nvidia climbing almost 2% after taking a stake in neocloud provider Nebius, and tech optimism helped offset lingering trade-policy uncertainty and the ongoing Iran conflict. Semiconductor stocks extended their bounce after strong export data out of Taiwan and South Korea reinforced sector optimism.

This Morning's Tone (Wednesday, July 22)

The rally has stalled out overnight. Dow futures dipped about 102 points (-0.2%), with S&P 500 futures down 0.4% and Nasdaq-100 futures down 1%, pressured by another leg up in oil prices. Brent crude jumped 3% to above $94/barrel (briefly topping $95) and WTI rose 3% above $86, after the 11th straight round of U.S. strikes on Iran — Secretary of State Rubio said Iran is "not serious about talks" and warned the U.S. will "do what is necessary" if that continues. Investors are also looking ahead to another heavy day of earnings from major tech and industrial names

I intend to go with a breakout of the range we are in 52203 to 52504. This will take patience.

This is a fade-the-gap-down-into-support or breakout-above-resistance kind of session — the range is well defined (51,800/52,000 support vs. 53,000/53,300 resistance) and price is sitting mid-channel near 52,400, so there's no edge chasing the middle. With oil-driven headline risk this active, expect sharp, fast reversals on any Iran-related news — size down and widen stops accordingly, and treat this morning's -0.2% futures dip as noise unless it starts pressuring the 52,000 support zone directly.

MBA Mortgage Applications

 7:00 AM ET

Atlanta Fed Business Inflation Expectations

 10:00 AM ET

EIA Petroleum Status Report

 10:30 AM ET

Treasury Buyback Announcement

 11:00 AM ET

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

4-Month Bill Auction

 11:30 AM ET

20-Yr Bond Auction

 1:00 PM ET

Treasury Buyback Results

 2:00 PM ET

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DATE: 7/22/2026

TIME: 9:31 AM

HIGH: 52590

LOW: 52035

CLOSE: 52443

PIVOT: 52356

SUPPORT: 52194

RESISTANCE: 52601

SWING MAGNITUDE: 227

TIME OF COMMENT: 9:31 AM

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