S&P 500 up 0.43% — Market Pulse · Aug 21, 2026
U.S. stocks finished higher on Aug. 21, with the Dow Jones Industrial Average rising 517.80 points, or 0.98%, to 53,277.01. The S&P 500 added 33.21 points, or 0.43%, to 7,674.37, the Nasdaq Composite gained 113.29 points, or 0.43%, to 26,180.46, and the Russell 2000 climbed 25.44 points, or 0.85%, to 3,017.87. The rebound helped steady sentiment after Thursday’s drop, but it did not fully erase a choppy five-session stretch.
Key Takeaways
- S&P 500 closed up 0.43% at 7,674.37.
- Market breadth finished with 332 advancers, 169 decliners, and a 1.964 advance/decline ratio.
- Materials led sectors at +2.14%, while Utilities lagged at -2.28%.
- VIX ended at 15.13 in the latest five-session lookback.
- SPY’s first resistance is 766.47 and first support is 760.42.
Market Breadth: Stocks bounced Friday, but the week still showed fading participation beneath the rebound
| Metric | Aug 17 | Aug 18 | Aug 19 | Aug 20 | Aug 21 |
|---|---|---|---|---|---|
| Advance/Decline Ratio | 0.361 | 0.832 | 1.346 | 0.463 | 1.964 |
| Advances | 133 | 227 | 288 | 158 | 332 |
| Declines | 368 | 273 | 214 | 341 | 169 |
| Advancing Volume | 27.9% | 43.0% | 61.8% | 28.5% | 62.2% |
| Stocks Near 52-Week Highs | 11 | 9 | 14 | 5 | 19 |
| Stocks Near 52-Week Lows | 4 | 4 | 1 | 4 | 4 |
| % Above 20-Day MA | 58.5% | 53.3% | 54.3% | 45.7% | 50.1% |
| % Above 50-Day MA | 62.0% | 60.4% | 61.2% | 54.5% | 57.9% |
| % Above 200-Day MA | 71.2% | 71.2% | 74.6% | 73.0% | 72.2% |
Internals improved sharply versus Aug. 20. Advancers beat decliners 332 to 169, for an advance-decline ratio of 1.964, and advancing volume reached 62.23%. That was a clear reversal from Thursday, when advancing volume was 28.49% and decliners led 341 to 158. Even so, participation remains mixed under the surface. About 49.7% of stocks closed above their 20-day moving average, 56.86% stayed above the 50-day, and 68.39% held above the 200-day.
Explore the full dashboard: Market breadth.
Market Performance: Major Indexes
| Index | Close | Change | % Change |
|---|---|---|---|
| S&P 500 | 7,674.37 | 33.21 | +0.43% |
| Dow Jones Industrial Average | 53,277.01 | 517.80 | +0.98% |
| Nasdaq Composite | 26,180.46 | 113.29 | +0.43% |
| Russell 2000 | 3,017.87 | 25.44 | +0.85% |
Five-session context:
| Index | Aug 17 | Aug 18 | Aug 19 | Aug 20 | Aug 21 |
|---|---|---|---|---|---|
| S&P 500 | -0.52% | -0.69% | +0.21% | -0.87% | +0.43% |
| Dow Jones Industrial Average | -0.51% | -0.22% | +0.22% | -1.32% | +0.98% |
| Nasdaq Composite | -0.32% | -1.33% | +0.16% | -1.00% | +0.43% |
| Russell 2000 | -0.35% | -1.30% | +0.50% | -1.34% | +0.85% |
Friday’s winners were broad enough to lift all four major indexes, but the five-session picture was softer. Over the week, the S&P 500 fell from 7,745.06 to 7,674.37, the Nasdaq Composite dropped from 26,644.91 to 26,180.46, and the Russell 2000 slid from 3,057.54 to 3,017.87. The Dow was relatively resilient, falling from 53,459.78 to 53,277.01. Small caps did rebound well on Friday, up 0.85%, which may matter if that strength starts to persist.
Explore the full dashboard: Market snapshot.
Sector View: Leaders and Laggards
- Leaders: Materials (XLB +2.14%), Health Care (XLV +1.29%), Consumer Discretionary (XLY +1.15%), Financials (XLF +0.93%), Consumer Staples (XLP +0.79%)
- Laggards: Utilities (XLU -2.28%), Energy (XLE -0.17%), Real Estate (XLRE 0.00%), Technology (XLK +0.11%), Industrials (XLI +0.27%)
Leadership favored cyclical and defensive pockets rather than a single dominant theme. Materials led with XLB up 2.14%, followed by Health Care at 1.29%, Consumer Discretionary at 1.15%, Financials at 0.93%, and Consumer Staples at 0.79%. On the weaker side, Utilities fell 2.28%, Energy slipped 0.17%, Real Estate was flat, Technology rose just 0.11%, and Industrials gained 0.27%. That mix suggests the rebound was real, though not especially powered by Technology.
Explore the full dashboard: Sector performance.
Volatility: VIX and ETF Implied Volatility
| Metric | Aug 17 | Aug 18 | Aug 19 | Aug 20 | Aug 21 |
|---|---|---|---|---|---|
| VIX Level | 15.19 | 15.84 | 14.89 | 16.01 | 15.13 |
- SPY IV: 10.37% (Low)
- QQQ IV: 16.57% (Normal)
- IWM IV: 14.17% (Low)
- DIA IV: 10.73% (Low)
Volatility cooled after Thursday’s jump. The VIX closed at 15.13, down from 16.01 the prior session, and below the week’s high close of 16.01. ETF implied volatility also stayed contained overall. SPY average implied volatility was 10.37%, IWM was 14.17%, DIA was 10.73%, and QQQ was 16.57%. Those readings point to a market that saw stress this week, but not a major volatility breakout.
Explore the full dashboard: Volatility.
Headlines Moving Markets
Recent macro and policy context remains in the background. The BEA’s latest releases showed personal income up $54.9 billion, or 0.2%, in June, disposable personal income up $48.3 billion, or 0.2%, and personal consumption expenditures up $65.2 billion, or 0.3%. The advance estimate for second quarter real GDP showed growth at a 1.5% annual rate, down from 2.1% in the first quarter. On the policy side, July 28-29 FOMC minutes were released on Aug. 19, and the latest FOMC statement was issued on July 29. Positioning data was mixed: options whale activity over five trading days was bullish overall, with $148,792,711 in call premium versus $59,725,303 in put premium, while stock whale activity was bearish overall, with a buy-sell ratio of 0.49 and net value of negative $3,627,517,463.57.
- Personal Income and Outlays, June 2026
- GDP (Advance Estimate), 2nd Quarter 2026
- Federal Reserve Board announces approval of application by National Westminster Bank Plc
- Federal Reserve Board issues enforcement action with SouthPoint Bancshares, Inc. and announces termination of enforcement action with Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch
- Federal Reserve Board issues enforcement actions with former employee of Regions Bank and former employee of United Community Bank
- Federal Reserve issues FOMC statement
- Minutes of the Federal Open Market Committee, July 28–29, 2026
- Here are the top 10 things we’re watching in the stock market Friday
- Wall St rises on the day but falls for the week; bond yields and Iran in focus - Reuters
- Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
- Global bond markets put governments on notice over fiscal, inflation risks - Reuters
- US will impose ‘toughest sanctions in history’ on Iran, Bessent says - Reuters
Technical Snapshot (SPY)
| Level | Aug 17 | Aug 18 | Aug 19 | Aug 20 | Aug 21 |
|---|---|---|---|---|---|
| 20-day SMA | 756.15 | 757.67 | 758.64 | 759.72 | 760.94 |
| 50-day SMA | 748.51 | 748.86 | 749.50 | 750.13 | 750.68 |
| 200-day SMA | 702.71 | 703.17 | 703.59 | 704.07 | 704.50 |
Near-term pivot structure, based on 2026-08-20:
- Resistance: 766.47 (R1), then 770.32 (R2)
- Pivot: 764.27
- Support: 760.42 (S1), then 758.22 (S2)
SPY technical levels offer a useful reference after the rebound. Using the Aug. 20 reference, the traditional pivot sits at 764.27, with resistance at 766.47 and 770.32, and support at 760.42 and 758.22. The SPY 20-day, 50-day, and 200-day simple moving averages are 760.94, 750.68, and 704.50, respectively. Those moving averages have all continued to rise over the last five sessions, which suggests the longer trend is still constructive even as short-term participation has cooled.
Explore the full dashboard: Support & Resistance levels.
What to Watch Next
- Whether the S&P 500 can build on Friday’s close at 7,674.37 after three down sessions in the last five.
- Breadth follow-through, especially if advancing volume can stay closer to 62.23% than Thursday’s 28.49%.
- SPY versus 764.27 pivot, then 766.47 and 770.32 on the upside.
- VIX after the drop to 15.13.
- Sector rotation. Materials gained 2.14% while Utilities fell 2.28%.
- Positioning split between bullish options whale flow, call-put ratio 2.49, and bearish stock whale flow, buy-sell ratio 0.49.
Bottom Line
Friday brought a solid rebound in prices, better breadth, and calmer volatility. Still, five-session returns and only 49.7% of stocks above their 20-day moving average suggest the market is recovering from a soft patch rather than moving in a clean all-clear trend.
Market Pulse provides daily analysis of S&P 500 market breadth, sector rotation, and volatility signals to help investors understand what’s happening beneath the surface. Data sourced from our real-time market breadth collectors. For personalized planning, explore our retirement calculators, investment tools, and FIRE planning resources.
Disclaimer: Nothing here is investment advice or a recommendation to buy or sell any security. This content is for educational purposes only. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you. You should not rely on this information without independent verification or professional advice. No client relationship or fiduciary duty is created by viewing or using this content. Investments involve risk, including the possible loss of principal.
Wes Dean
Co-Founder & Chief Technology Officer
Dean Financials
Wes brings over 25 years of IT industry experience combined with a lifelong passion for financial markets. An active stock market investor since high school, he developed the proprietary market breadth and volatility analysis systems that power Dean Financials' data dashboards. Wes's unique combination of software engineering expertise and deep market knowledge enables him to create sophisticated yet accessible tools for analyzing market conditions and making data-driven investment decisions.
Areas of Expertise:
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