Prior Trading Day Summary:
On Wed Jul 9 2025 investors shrugged off the tariff concerns and returned to buying. Semiconductor stocks in general rose with NVIDIA Stock (NVDA) leading the way to a new hhigh and a $4 Trillion dollar market cap.
The SPX rose 37 points to 6,263 on 4.5 billion shares traded. 62% of all stocks were rising.
The NASDAQ rose 192 points to 20,611 on 10.2 billion shares traded. This is the highest volume since June 27. 64% of all stocks on the NASDAQ were climbing by the close.
Let’s review the technical indicators at the close on Wed Jul 9 2025 to see what they predict for Thu Jul 10 2025.
Stock Market Outlook: SPX Closing Chart For Wed Jul 9 2025
The index closed just below the Upper Bollinger Band. This is bullish.
The closing candlestick is bullish for Thursday.
The 21 day moving average is rising and closed at 6105 which is bullish.
The 50 day moving average is rising and closed at 5934 which is bullish.
The 100 day moving average is rising and closed at 5875 which is bullish.
The 200 day moving average is rising and closed at 5764 which is bullish.
The Lower Bollinger Band is rising but still below the 50 day moving average. The Upper Bollinger Band is rising which is bullish.
The SPX chart is more bullish than bearish.
SPX Stock Market Outlook review of Wed Jul 9 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Thu June 26. On Wed Jul 9 2025 the up signal lost strength.
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Ultimate Oscillator: The Ultimate Oscillator is rising.
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Slow Stochastic: The Slow Stochastic has a down signal.
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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 falling which signals a weaker day on Thursday for equities is expected. 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 |
| 6300 is resistance |
| 6250 is resistance |
| 6225 is resistance |
| 6200 is resistance |
| 6175 is resistance |
| 6150 is resistance |
| 6125 is resistance |
| 6100 is resistance |
| 6075 is resistance |
| 6050 is resistance |
| 6025 is resistance |
| 6015 is resistance |
| 6000 is resistance |
| 5990 is support |
| 5975 is support |
| 5950 is support |
| 5925 is support |
| 5900 is support |
| 5850 is support |
| 5800 is support |
| 5785 is support |
| 5750 is support |
| 5700 is support |
Stock Market Outlook for Thu Jul 10 2025
For Thursday we could see some weakness on the back of news of a leap in tariffs with Brazil to 50%. However while a choppy day is expected, any dip will find buyers and the day will end higher.
Potential Economic and Political Market Moving Events
Monday:
no events are scheduled
Tuesday:
6:00 NFIB optimism index was slightly lower at 98.6
3:00 Consumer credit was better than expected, coming in at $5.1 billion, roughly half of what was estimated.
Wednesday:
10:00 Wholesale inventories came in as estimated at -0.3%.
2:00 Latest FOMC minutes held no surprises
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims are expected to climb slightly to 235,000