Prior Trading Day Summary
On Thu Oct 23 2025 stocks had another choppy day but with news of a meeting with China’s Xi and strong corporate earnings continuing from the majority of companies, investors set aside their worries, for now and pushed stocks higher on Thursday. The S&P closed up 39 points wiping out Wednesday’s loss and closing at 6738. Volume was excellent at 5.6 billion shares with 62% of stocks rising.
The NASDAQ rose 201 points almost wiping out Wednesday’s loss of 210 points. It closed at 22,942. Volume was good at 10.4 billion shares traded with 63% of all stocks on the index, rising.
The NASDAQ had a wild day as well and touched a low of 22514 but rallied back into the close to end the day down 213 points to 22,740. The NASDAQ is still positive for the week adding 60 points. Volume jumped 3.6 billion shares to 15.1 billion. 68% of all stocks on the NASDAQ were falling by the close.
The VIX index closed lower at 17.30 dropping 7%. Shares of Tesla Stock (TSLA) had a wild day with low of $413.90 and then closing up $10.01 to $448.98 following earnings on Wednesday after the close. International Business Machines Stock (IBM) also had a volatile day after reporting earnings on Wednesday after the close. The stock fell to $263.56 but managed to recover to $285, down just $2.51 on the day. The strength of many stocks was apparent as the afternoon wore on. This type of action is bullish for stocks.
Lets review the closing technical indicators from Thu Oct 23 2025 to see what investors should expect on Fri Oct 24 2025.
Stock Market Outlook: SPX Closing Chart For Thu Oct 23 2025
The index closed below the Upper Bollinger Band but bounced off the 21 day moving average. This is a bullish signal.
The closing candlestick is bullish for Friday with a short shadow which signals a shallow dip may occur on Friday but it is am opportunity to setup trades.
The 21 day moving average is rising and closed at 6686 which is bullish.
The 50 day moving average is rising and closed at 6588 which is bullish.
The 100 day moving average is rising and closed at 6410 which is bullish.
The 200 day moving average is rising and closed at 6169 which is bullish.
The Lower Bollinger Band is just below the 50 day moving average which is bullish. The Upper Bollinger Band is moving higher which is bullish. The chance of a Bollinger Bands Squeeze is unlikely at present.
The SPX chart is more bullish than bearish for Friday. All moving averages are above 6100 which is bullish for further advances.
SPX Stock Market Outlook review of Thu Oct 23 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and negative.
|
MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Thu Oct 9 2025. On Thursdayy the down signal lost a lot of strength and could issue an up signal as soon as Friday’s close or Monday, if stocks are higher.
|
Ultimate Oscillator: The Ultimate Oscillator is rising.
|
Slow Stochastic: The Slow Stochastic has an up signal in place and is overbought. The up signal is being challenged by a down signal.
|
Relative Strength Index: The RSI signal is rising.
|
| Rate of Change: The rate of change is rising. It is signaling a higher close for Friday. 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 |
| 6775 is resistance |
| 6750 is resistance |
| 6715 is resistance |
| 6700 is resistance |
| 6675 is resistance |
| 6650 is resistance |
| 6625 is resistance |
| 6600 is resistance |
| 6590 is resistance |
| 6570 is resistance |
| 6550 is support |
| 6500 is support |
| 6450 is support |
| 6425 is support |
| 6400 is support |
| 6350 is support |
| 6325 is support |
| 6300 is support |
| 6250 is support |
| 6225 is support |
| 6200 is support |
Stock Market Outlook for Fri Oct 24 2025
On Friday market action was bullish for stocks. Today we may get an inflation read if the Consumer Price Index numbers are released.
However even without the numbers the chance of the Fed dropping rates another quarter point are high next week. That will help boost the bullish side of the market.
In every dip over the past week the bears have been unable to capitalize on dips, even deeper ones. That has resulted in the overbought technical signals, weakening and allowing stocks to resume their advance. As well, corporate earnings have exceeded estimates from the majority of companies reporting so far this quarter. That is helping keep a valuation floor in place for most stocks.
On Friday the closing candlestick from Thursday indicates a dip could occur but it will be shallow and quickly bought into. The outlook is still higher for the end of what has been a very profitable week.
Potential Economic and Political Market Moving Events
Monday:
10:00 Leading economic indicators for September are expected to rise to -0.3% from -0.5% prior. This data may not get released due to the government shutdown.
Tuesday:
9:00 Fed government Waller speech
Wednesday:
4:00 Fed governor Barr speech
Thursday:
With the government shutdown we may not see these reports:
8:30 Weekly Initial Unemployment Insurance Claims is estimated at 225,000 – not released
10:00 Existing home sales rose to 4.06 million, up 600,000 from the prior reading.
Friday:
8:30 Consumer Price Index probably will not be released but if it is, it is expected to come in at 0.4%
8:30 CPI year-over-year is estimated to rise to 3.1% from 2.9% prior
8:30 Core CPI is estimated to remain unchanged at 0.3%
8:30 Core CPI year-over-year was estimated to remain unchanged at 3.1%
9:45 S&P flash services PMI is estimated to slip to 54.0 from 54.2 prior
9:45 S&P flash manufacturing PMI is estimated to slip to 51.8 from 52.0 prior
10:00 Consumer sentiment is estimated to slip to 54.9 from 55 prior
10:00 New home sales are estimated at 710,000 for September a drop from 800,000 prior
Most of the reports on Friday probably will not be released due to the ongoing government shutdown.