Prior Trading Day Summary
On Wed Jun 24 2026 stocks rallied in the morning and gave back all the gains in the afternoon and into the close. For Thu Jun 25 2026 though, market direction will be all about Micron Technology (MU) earnings which blew past all estimates. On Thursday I would expect the chip trade is back on, once again.
On Wednesday the SPX fell 7 points by the close to end the day at 7358 on 6.1 billion shares traded. Despite the small loss, 53% of al stocks were rising by the close.
The NASDAQ lost 110 points to close at 25,476 on 15.8 billion shares traded. By the close 45% of all stocks were still rising on the index.
After hours news was released that all banks past the Fed’s stress tests. A number of banks announced dividend increases including Goldman Sachs Stock (GS). This news combined with Micron earnings will propel markets on Thursday.
Let’s review the closing technical indicators from Wed Jun 24 2026 to see what they predict for Thu Jun 25 2026.
Stock Market Outlook: SPX Closing Chart For Wed Jun 24 2026
The index fell back to the 50 day moving average again on Wednesday but held just above it for a second day. This is bullish for a bounce.
The closing candlestick is bullish for Thursday. A long shadow appears on Wednesday’s closing candlestick for a second day. Normally a bounce should be expected on the second day.
The 21 day moving average is falling and closed at 7475. This is bearish.
The 50 day moving average is rising and closed at 7349. This is bullish.
The 100 day moving average is rising and closed at 7145. This is bullish.
The 200 day moving average is rising and closed at 6902. 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.
The SPX chart is more bullish than bearish for Thu Jun 25 2026 and is signaling a likely bounce today.
SPX Stock Market Outlook review of Wed Jun 24 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive. This is bullish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Tue May 19 2026. On Wed Jun 24 2026 the down signal gained strength.
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Ultimate Oscillator: The Ultimate Oscillator is rising which is bullish.
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Slow Stochastic: The Slow Stochastic has a down signal in place. This is bearish.
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Relative Strength Index: The RSI signal is rising which is bullish.
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| Rate of Change: The rate of change is falling, signaling Thursday 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 Thu Jun 25 2026
Micron earnings on Wednesday after hours were terrific and the stock shot higher after hours. Other stocks followed higher including Western Digital Stock (WDC), Seagate Stock (STX), Sandisk Stock (SNDK) and others. As well all banks passed the Fed’s stress test and some began to increase dividends including Goldman Sachs Stock (GS) which jumped their annual dividend to $5.00. Many bank stocks rose after hours.
For Thursday stocks are oversold and many are ready to bounce, particularly the chip stocks. Thursday will see stocks and the indexes higher unless the PCE numbers are a lot stronger than estimated (see below under Thursday). Strong PCE numbers could knock the wind out of a bounce on Thursday but are not expected to do so.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
9:45 Jun Flash manufacturing PMI came in at 55.7 which was slightly ahead of the 55.3 prior
9:45 Jun Flash services PMI came in above estimates at 51.3 versus 50.9 prior.
Wednesday:
10:00 New home sales for May was lower than estimated, falling to 580,000 well below estimates of 632,000
4:00 Fed Board annual bank stress test results
Thursday:
8:30 Weekly Initial Unemployment Insurance Claims are estimated to rise slightly to 228,000 from 226,000 prior
8:30 Personal income is estimated to rise 0.4%
8:30 Personal spending is estimated to rise to 0.6%
8:30 PCE Index is estimated to rise slightly to 0.5% from 0.4% prior
8:30 PCE year-over-year is estimated to rise to 4.1% from 3.8% prior
8:30 Core PCE is estimated to rise 0.3%
8:30 Core PCE year-over-year is estimated to rise to 3.4% from 3.3% prior
8:30 Durable goods orders for May are estimated to fall -4.0% from 7.9% prior
8:30 GDP for first quarter is estimated at 1.7% up from 1.6% prior