Day-Trading Scenarios for Jul 24, 2026

Earnings announcements continue to provide volatility.

The short term pattern will resume agreement with the daily when we trade below 52043 - the daily pivot.

Remember, earnings rumors can cause sudden price moves regardless of the short term trends so dont forget about reasonable stops.

Yesterday's Recap (Thursday, July 23)

It was a sharp risk-off day. The Dow Jones Industrial Average lost 506.93 points (-0.97%) to close at 51,711.65, the S&P 500 dropped 1.21% to 7,408.30, and the Nasdaq Composite declined 2.15% to 25,137.69 — the S&P's worst one-day drop in a month. Two forces converged:

• AI-capex jitters: The tech-heavy Nasdaq was bogged down by a 7% drop in Alphabet and a 14% loss in Tesla following their earnings reports — Alphabet lifted its 2026 capex forecast to $195–205 billion (up from $180–190 billion), and both Tesla and Alphabet posted negative free cash flow for Q2, which spooked investors already nervous about hyperscaler spending.

• Middle East escalation: Oil prices surged after Yemen's Houthi militants claimed attacks on two Saudi Arabian tankers in the Red Sea, and Brent crude surged above $100/barrel for the first time in two months. Treasury yields climbed too, with the 10-year briefly rising above 4.7%.

Technical Levels (Dow futures / YM, Sept '26 contract)

The YMU26 contract's most recent session ranged 51,909–52,136, with a 52-week range of 43,464–53,656, and is currently quoted around 52,113, up about 0.42% in premarket. CNBCCNBC

• Prior support (now tested): ~51,900 — Thursday's drop closed right at this line, so it's the level to watch for confirmation of a real bounce vs. a dead-cat rally

• Immediate resistance: ~52,200–52,400 (Wednesday's consolidation zone)

• Major resistance: ~53,000–53,300

• Failure zone: a close back below 51,700 (Thursday's cash close) reopens the 50,900–51,000 zone

Fundamental Drivers Today

• AI-capex sentiment repair or continuation — Intel's beat is the first "good AI news" counterpoint to Alphabet/Tesla; whether the market treats this as a floor or a one-off will set the tone into the weekend

• Oil reversal — the pullback below $99 is easing inflation fears, but the weekly gain and ongoing Red Sea tensions mean this can reverse fast on any new headline

• Yields — the 10-year's pullback from 4.7% is a modest tailwind; a re-test of that high would pressure risk assets again

• PMI and new home sales data — first real macro data points since the tech-earnings shock, could confirm or challenge the "stabilization" narrative

• More earnings (AmEx, NextEra, Verizon) — keeps single-stock volatility elevated into the close

20-Yr Bond Settlement

PMI Composite Flash

 9:45 AM ET

New Home Sales

 10:00 AM ET

Baker Hughes Rig Count

 1:00 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 7/24/2026

TIME: 8:41 AM

HIGH: 52515

LOW: 51720

CLOSE: 51894

PIVOT: 52043

SUPPORT: 51726

RESISTANCE: 52353

SWING MAGNITUDE: 226

TIME OF COMMENT: 8:41 AM

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