Prior Trading Day Summary:
On Fri Jun 6 2025, the May Non-Farm Payroll Numbers were better than economists had estimated and the indexes moved higher. The S&P climbed 61 points to end the day at 6000. This is the first close at 6000 since February when the index slipped below 6000. Volume on Friday was low at 4.4 billion shares traded but 77% of volume was being traded higher and 67% of stocks were climbing. It was the best single day for the index since May 27. For the week, the S&P rose 88 points.
The NASDAQ closed up 231 points to 19530. volume was low at 7.4 billion shares traded but 80% of the volume was moving higher and 70% of stocks were rising. It was also the single best day since March 27. For the week, the NASDAQ rose 416 points.
Lets review the technical indicators from the close on Fri Jun 6 2025 to see what we should expect for the start of the second week of June.
Stock Market Outlook: SPX Closing Chart For Fri Jun 6 2025
The index closed above all major moving averages but below the Upper Bollinger Band. It is however climbing and could touch the Upper Bollinger Band today or tomorrow.
The closing candlestick is bullish for Monday although the shadow at the close is a warning that dips are likely today, but they will be shallow.
The 21 day moving average is rising and closed at 5888 which is bullish. There are now just two down signals left from the late March and early April SPX collapse.
The 50 day moving average is rising and closed at 5629 which is bullish.
The 100 day moving average is rising and closed at 5550 which is bullish.
The 200 day moving average is rising and closed at 5685 which is bullish.
The Lower Bollinger Band moved above the 200 day on Friday which is bullish. It is now ready to move above the 100 day which will be bullish. The Upper Bollinger Band is falling which is bearish at present. We could see a Bollinger Bands Squeeze this week.
For Mon Jun 9 2025 the SPX chart is more bullish than bearish with just the closing candlestick’s shadow warning of dips likely today.
SPX Stock Market Outlook review of Fri Jun 6 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive..
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Fri May 30. The down signal was weaker on Friday.
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Ultimate Oscillator: The Ultimate Oscillator is falling.
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Slow Stochastic: The Slow Stochastic has a weak up signal in place.
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Relative Strength Index: The RSI signal is rising.
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| Rate of Change: The rate of change signal is rising signaling Monday 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 |
| 6025 is resistance |
| 6015 is resistance |
| 6000 is resistance |
| 5990 is resistance |
| 5975 is resistance |
| 5950 is resistance |
| 5925 is resistance |
| 5900 is resistance |
| 5850 is resistance |
| 5800 is support |
| 5785 is support |
| 5750 is support |
| 5700 is support |
| 5650 is support |
| 5630 is support |
| 5600 is support |
| 5550 is support |
| 5500 is support |
| 5475 is support |
Stock Market Outlook for Mon Jun 9 2025
The open on Monday should be higher followed by a slight dip. The dip will be quickly bought into and the index will close higher on the day.
Only the whole inventories are being released on Monday. This is bullish for investors as the wholesale inventories rarely moves markets up or down.
Potential Economic and Political Market Moving Events
Monday:
10:00 Wholesale inventories are estimated to have decline to 0.0% from 0.4% prior