The outlook for Tuesday was for stocks to close slightly lower. While the S&P and NASDAQ both did move lower, the Dow managed to close at a new all-time high.
S&P Index Close
The S&P index spent most of the day around the 2164 to 2165 level again on Wednesday. The close saw a loss of 7.79 points to close at 14,524.61.
Dow Jones Index Close
The Dow had a small gain of 25.96 points to close at 18,559.01.
NASDAQ Index Close
The NASDAQ closed slightly lower down 19.41 points to 5036.37.
Stock Market Outlook for Tomorrow – July 20 2016
Tonight’s stock market outlook is shorten to allow more time for some trading ideas for Wednesday.
Overall there is not much change technically in stocks. The technical indicators are all still strongly positive but are continuing to show signs of weakness. The most important indicator on Tuesday was the closing candlestick which was bullish for a move up on Wednesday. Meanwhile the two stochastic indicators were both neutral to slightly negative for Wednesday.
The market is still overbought but continues to point to further gains. The earnings from Microsoft after hours may be enough to bump the market higher on Wednesday.
For Wednesday look for stocks to move slightly higher.
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