Bulls Rebound, but Momentum Remains Fragile
Wendy Kirkland Market Watch Sept 21, 2026
Markets opened the week with a sharp rebound after a volatile stretch that leaned heavily to the downside. The major indexes are showing renewed strength today, but the longer-term charts still point to modest momentum rather than a decisive breakout.
Friday’s session featured repeated swings. The S&P 500 and Nasdaq recovered late to finish higher, with the S&P up 12 points and the Nasdaq up 104. The Dow closed down 97 points, while the Russell 2000 posted the largest percentage decline of the group, finishing down $1.40.
That uneven close reflected the broader tone of the week: frequent reversals, meaningful downside pressure, and only selective late-session recovery.
Today’s action is notably more bullish. The S&P 500 gapped higher and climbed close to its high of the day, gaining 69 points, or about 0.91%. The Nasdaq advanced roughly 400 points, or 1.5%.
The rebound may reflect shifting geopolitical expectations, along with attention on the Iranian conflict, President Trump’s summit travel, and United Nations meetings. With several developing events in play, the market’s response may continue to change quickly.
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