Wendy Kirkland Market Watch

A Big Pop, Then a Quick Reality Check

Wendy Kirkland Market Watch July 27, 2026

This morning looked pretty promising right out of the gate. The Dow was up big, the NASDAQ jumped early, and the S&P looked like it might be ready for a solid bullish day. For a minute there, it felt like buyers were back in control.

Then things changed fast. The major indexes started giving back those early gains, and before long the NASDAQ and S&P had slipped into negative territory. The Russell was still slightly green, but not by much. It was one of those mornings that starts off exciting and then quickly reminds you not to get too comfortable.

Why I’m Watching the Monthly Charts

Since we’re getting close to the end of the month, the monthly charts are worth paying extra attention to. The S&P is working on what could become a second bearish month, and the indicators are getting close to a possible bearish shift. That doesn’t mean we’re guaranteed to see a big drop, but it does mean this is a spot to watch closely.

The NASDAQ looks a little weaker here, with a stronger red candle and more pressure showing up in the indicators. The Dow has been slower to weaken, but even there we’re starting to see some softness. So now the question is whether this is just another small dip or the start of something bigger.

Is This a Pullback or Just a Pause?

That’s really the big question right now. Are we heading into a more bearish stretch, or is this just another quick test before the market finds support again? We’ve seen bearish-looking setups fizzle out before, especially during this longer bullish run, so it’s too early to jump to conclusions.

For now, I’d say patience is the best move. By the end of the week, we should have a better feel for whether the monthly charts are really turning bearish or whether this is just another shakeout inside the bigger trend.

Either way, it’s a good week to keep an eye on the charts and let the market show us what it wants to do next.

Wendy Kirkland Market Watch July 27, 2026