Highlights from the NDW Morning Update Video for the morning of 7/20/2026.

Below are highlights from the NDW Morning Update Video for the morning of 7/20/2026. Access the the video on the NDW Morning Update Video page. 

• Crude Oil (CL/) led the way to the upside Friday (7/17) gaining more than 3% for the day and moving into the lower $80s on the point and figure trend chart. This follows the commodity returning to a buy signal early last week, and investors will see if crude sustains rallies over the weekend that saw the commodity touch the $90 range.
• U.S. equities were negative and led to the downside by the Nasdaq-100 (NDX) and Nasdaq Composite (NASD) as each fell more than 1% for the day and saw the indices give second sell signals. NDX broke a spread quadruple bottom at 28,800 and fell to 28,400, violating support in the upper 28,000 range and brings the index to its lowest level since May. NASD continues to maintain support in the 25,000 range as the index has consolidated since June.
• Emerging markets were down more than 1% with the iShares MSCI Emerging Markets ETF (EEM) dropping to $63 on the point and figure chart, giving a sell signal at $64 and completing a bullish signal reversal pattern. This follows the ETF reversing into Os on its market relative strength chart early last week, which has brought the ETF’s fund score down to 3.75 (out of 6).
• Major market bullish percents continue to maintain recent chart levels, though subsectors like semiconductors, computers, and electronics witnessed notable drops in their BP charts, suggesting a decrease in stocks maintaining point and figure buy signals.
• Twenty-four out of the roughly 100 stocks within the S&P 100 Index (OEX) will be reporting earnings this week. Below are notable highlights.
  • Capital One Financial (COF) – Reports 7/21 – 3 for 5’er that completed a second buy signal last week, clearing resistance at $208 that dated back to February. Resistance now lies near highs at $256, while support can be found at $192 and $180, the bullish support line.
  • General Motors (GM) – Reports 7/21 – 3 for 5’er trading in the mid $70s after violating the bullish support line and shifting into a negative trend to finish off June. A move above $81 would shift the trend back to positive, but notable resistance can be found in the mid $80s. Beyond current support at $75 additional can be found at $71.
  • Google (GOOGL) – Reports 7/22 – 3 for 5’er that gave a second sell signal during Friday’s (7/17) trading at $348 as shares fell to $344. This follows the stock reversing down into Os on its peer relative strength chart earlier last week. Beyond near-term support at $332, investors are looking to the upper $200 range before the next available level of support.
  • Tesla (TSLA) – Reports 7/22 – 3 for 5’er that returned to a sell signal by breaking a triple bottom at $388, which also violated the bullish support line and shifted the trend to negative. From here, a move above $416 would return the stock to a buy signal and shift the trend back to positive. Initial support can be found in the $368 to $372 range, while additional lies at $340.
  • American Express Company (AXP) – Reports 7/24 – 4 for 5’er that returned to a buy signal early last week at $360. Note resistance at $368, while the stock’s chart high resides at $384. Initial support lies at $336, while the bullish support line can be found at $328.