Prior Trading Day Summary
On Fri Jun 26 2026 stocks ended the day lower but the stats show that market breadth is favoring the bulls.
The SPX closed down 3 points to 7354 on 9.7 billion shares traded. 68% of all the volume was traded higher and 63% of all stocks were rising. Both Thursday and Friday last week saw more stocks moving higher than lower.
The NASDAQ lost 61 points to close at 25,297 on 17.7 billion shares traded. By the close 77% of all stocks were still rising on the index. Volume was 70% advancing by the close.
Market breadth continues to point to a bounce probably on Monday.
Let’s review the closing technical indicators from Fri Jun 26 2026 to see what they predict for Mon Jun 29 2026.
Stock Market Outlook: SPX Closing Chart For Fri Jun 26 2026
The index ended the day at the 50 day moving average. This is bearish.A test of the 50 day is likely as investors determine whether the index falls still lower or is down enough already. It is down 3.5% from its Jun 2 high. 5% would be a normal correction. That would be 7240.
The closing candlestick is bearish for Monday but also points to a probable bounce attempt.
The 21 day moving average is falling and closed at 7459. This is bearish.
The 50 day moving average is rising and closed at 7363. This is bullish.
The 100 day moving average is rising and closed at 7153. This is bullish.
The 200 day moving average is rising and closed at 6911. This is bullish.
The Lower Bollinger Band is falling and below the 50 day moving average. This is bearish at present. The Upper Bollinger Band is trending sideways which is bearish. If it turns lower, this will be a signal that the index will be moving lower perhaps to the 7240 level discussed earlier.
The SPX chart is more bearish for Mon Jun 29 2026 and is signaling a bounce is likely.
SPX Stock Market Outlook review of Fri Jun 26 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling 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 Fri Jun 26 2026 the down signal gained strength.
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Ultimate Oscillator: The Ultimate Oscillator is falling which is bearish.
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Slow Stochastic: The Slow Stochastic has a down signal in place but also signals a potential bounce.
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Relative Strength Index: The RSI signal is unchanged which is neutral but often signals a bounce.
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| Rate of Change: The rate of change is falling, signaling Monday will end lower. 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 support |
| 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 Mon Jun 29 2026
Over the weekend oil prices rose slightly as some fighting erupted in the Iran conflict as well as Lebanon. Investors in general however don’t believe the war will recommence and as such a bounce is still expected for Monday.
This is a shortened week with the June non-farm payroll numbers released on Thursday. On Wednesday I will be placing a trade in the SPY ETF ahead of Thursday’s numbers.
Potential Economic and Political Market Moving Events
Monday:
No reports