Prior Trading Day Summary
On Thu Jun 11 2026 stocks roared back after President Trump announced a deal was close with Iran to end the conflict. Oil prices fell on the news and stocks shot higher.
The S&P soared 127 points to end the day at 7394. Volume rose to 5.8 billion shares traded with 75% of all volume being traded higher intraday. By the close 70% of stocks were rallying on the SPX.
The NASDAQ jump 640 points which returned the index to a positive 100 points on the week. Volume rose to 10.5 billion shares with 68% of all stocks rising by the close.
With the SPACEX IPO due on Friday, the outlook looks steady for a higher day.
Let’s review the closing technical indicators from Thu Jun 11 2026 to see what they predict for Fri Jun 12 2026.
Stock Market Outlook: SPX Closing Chart For Thu Jun 11 2026
The index closed below the 21 day moving average but above the Lower Bollinger Band. While this is still bearish the bounce on Thursday looks to have staying power for Friday.
The closing candlestick is bullish for Friday.
The 21 day moving average is unchanged and closed at 7468. This is neutral.
The 50 day moving average is rising and closed at 7230. This is bullish.
The 100 day moving average is rising and closed at 7092. This is bullish.
The 200 day moving average is rising and closed at 6856. This is bullish.
The Lower Bollinger Band is falling which is bearish. The Upper Bollinger Band is heading higher which is also bearish. after the bounce on Thursday the outlook is for the index to continue to climb.
The SPX chart is more bullish than bearish for Fri Jun 12 2026.
SPX Stock Market Outlook review of Thu Jun 11 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and negative. This is bearish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Tue May 19 2026. On Thu Jun 11 2026 the down signal lost strength.
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Ultimate Oscillator: The Ultimate Oscillator is rising and oversold. A move still higher is anticipated. This is bullish.
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Slow Stochastic: The Slow Stochastic has an up signal in place. It is oversold and at levels which a higher move is expected. This is bullish.
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Relative Strength Index: The RSI signal is rising sharply and bullish.
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| Rate of Change: The rate of change is rising, signaling today will end higher. Settings: Rate Of Change is set for a 21 period. This indicator looks back 21 days and compares price action from the past to the present. With the Rate Of Change, prices are rising when signals are positive. Conversely, prices are falling when signals are negative. As an advance rises, the Rate Of Change signal should also rise higher, otherwise the rally is suspect. A decline should see the Rate Of Change fall into negative signals. The more negative the signals the stronger the decline. |
Stock Market Outlook: Support and Resistance Levels |
| 7600 is resistance |
| 7590 is resistance |
| 7570 is resistance |
| 7550 is resistance |
| 7500 is resistance |
| 7450 is resistance |
| 7425 is resistance |
| 7400 is resistance |
| 7370 is resistance |
| 7350 is resistance |
| 7300 is support |
| 7280 is support |
| 7250 is support |
| 7200 is support |
| 7175 is support |
| 7150 is support |
| 7125 is support |
| 7100 is good support |
| 7050 is good support |
| 7000 is stronger support |
Stock Market Outlook for Fri Jun 12 2026
The SPACEX IPO will be the primary focus of investors today. Worries about inflation are on the back burner after the rally on Thursday in the indexes. The outlook is for a higher close today.
For Friday chip stocks will participate to the upside as well.
Potential Economic and Political Market Moving Events
Monday:
no reports scheduled
Tuesday:
6:00 NFIB optimism index fell lower than estimated, to 95.3.
8:30 April trade balancewas better than estimated at -$55.9 billion better than the last reading of -$56.6 billion
10:00 Existing home sales for May were stronger than estimated at 4.17 million, up from 4.02 million prior
10:00 Wholesale inventories for April were better than estimated coming in at 0.6% but still below the 1.5% reading from the last report
Wednesday:
8:30 CPI for May is estimated to fall slightly to 0.5% from 0.6% prior
8:30 CPI year-over-year is estimated to jump to 4.2% from 3.8% prior
8:30 Core CPI for May is estimated to fall to 0.3% from 0.4% prior
8:30 Core CPI year-over-year is estimated to rise to 2.9% from 2.8%
2:00 Monthly federal budget is estimated at -$292 billion versus -$316 billion prior
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims for June 6 were higher than estimated, coming in at 229,000
8:30 Producer Price Index for May was higher than estimated, coming in at 1.1%
8:30 Core PPI came in at 0.8% higher than estimated
8:30 PPI yea over year was higher than estimated, coming in at 6.5%
8:30 Core PPI year-over-year was quite higher than estimated, coming in at 5.1%
Friday:
No reports