Prior Trading Day Summary
On Wednesday tech stocks staged a rebound and dragged the rest of stocks higher.
The S&P rose 39 points, ending the day at 6753. Intraday the index touched 6755, a new all-time high. Volume was 5.5 billion shares traded with 55% of the volume moving higher and 57% of all stocks rising.
The NASDAQ rose 255 points to end the day at 23043, a new closing high. Volume was 11.4 billion shares with 63% of all stocks rising. It was a very strong day for the NASDAQ.
The rally on Wednesday did not change the tune from analysts who are still calling for the indexes to pullback shortly.
Lets review the closing technical indicators from Wed Oct 8 2025 to see whatwe should expected for Thu Oct 9 2025.
Stock Market Outlook: SPX Closing Chart For Wed Oct 8 2025
The index closed just below the Upper Bollinger Band. This is bullish.
The closing candlestick is signaling overbought, but higher for Thursday.
The 21 day moving average is rising and closed at 6655 which is bullish.
The 50 day moving average is rising and closed at 6518 which is bullish.
The 100 day moving average is rising and closed at 6344 which is bullish.
The 200 day moving average is rising and closed at 6109 which is bullish.
The Lower Bollinger Band is above the 50 day moving average which is bullish. The Upper Bollinger Band is starting to turn higher which is bullish.
The SPX chart is more bullish than bearish for Thursday. All moving averages are above 6100 which is bullish for further advances.
SPX Stock Market Outlook review of Wed Oct 8 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 an up signal on Wed Oct 1 2025. On Wed Oct 8 2025 the up signal was stronger.
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Ultimate Oscillator: The Ultimate Oscillator is rising.
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Slow Stochastic: The Slow Stochastic has n 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 is rising, signaling a higher close for today. 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 |
| 6775 is resistance |
| 6750 is resistance |
| 6715 is resistance |
| 6700 is resistance |
| 6675 is resistance |
| 6650 is resistance |
| 6625 is resistance |
| 6600 is resistance |
| 6590 is resistance |
| 6570 is resistance |
| 6535 is resistance |
| 6510 is resistance |
| 6500 is resistance |
| 6470 is resistance |
| 6450 is resistance |
| 6425 is support |
| 6400 is support |
| 6350 is support |
| 6325 is support |
| 6300 is support |
| 6250 is support |
| 6225 is support |
| 6200 is support |
| 6175 is support |
| 6150 is support |
| 6125 is support |
| 6100 is support |
Stock Market Outlook for Thu Oct 9 2025
For Thursday a new support level was added to the SPX at the 6425 level. The rally on Wednesday was strong with investors overwhelmingly buying stocks. Chip stocks that were being sold last week and earlier this week, rebounded. The move higher in that sector of the economy, found ready buyers who snapped up stocks Wednesday, that had been sold lower over the past several days including Tuesday. This is how quick the mood can change and is a sign of a market thet is overbought but investors continue to snap up stocks, fearful they will miss out on what appears to be a massive rally.
At the same time, the “nay-sayers” have not changed their tune but are still bearish on equities. That could be helping the market to move higher on days like Wednesday.
For Thursday, I anticipate the day will end with the indexes still higher.
Potential Economic and Political Market Moving Events
Monday:
10:00 No economic reports
Tuesday:
8:30 Trade deficit was not released due to the government shutdown
3:00 Consumer credit was not accurate on Tuesday.
Wednesday:
2:00 Minutes of Fed’s September FOMC meeting seemed to indicate that 2 more rate reductions are likely this year.That also helped stocks in the afternoon on Wednesday.
Thursday:
8:20 Fed Chair Powell speaks
8:30 Weekly Initial Unemployment Insurance Claims are not expected to be released due to the government shutdown.
10:00 Whole inventories are also not expected to be released