Prior Trading Day Summary
On Mon Jun 22 2026 investors took profits with many selling chip names. In particular Alphabet Stock (GOOGL) fell 5% for a drop of $18.35 to close at $349.68. It was the worst trading day in a year as top researchers left Alphabet for rival AI companies. Many investors were back wondering yet again if Alphabet was losing its competitive edge especially with DeepMind VP John Jumper leaving for rival Anthropic. This sell-off stretched into other tech names as well. Amazon.com Stock (AMZN) fell almost 5%, Broadcom Stock (AVGO) fell 4.5%, Meta lost 2.3%, Microsoft Stock (MSFT) fell 3% and SpaceX was down 16% on news of a bond sale.
By the close the S&P was down just 28 points to close at 7472 on 6.1 billion shares.
The NASDAQ saw a drop of 351 points to close at 26166 on 13.5 billion shares traded.
Let’s review the closing technical indicators from Mon Jun 22 2026 to see what they predict for Tue Jun 23 2026.
Stock Market Outlook: SPX Closing Chart For Mon Jun 22 2026
The index closed just below the 21 day moving average which is bearish. It is also well below the Upper Bollinger Band which is also bearish.
The closing candlestick is bearish for Tuesday.
The 21 day moving average is rising and closed at 7484. This is bullish.
The 50 day moving average is rising and closed at 7328. This is bullish.
The 100 day moving average is rising and closed at 7136. This is bullish.
The 200 day moving average is rising and closed at 6893. This is bullish.
The Lower Bollinger Band is rising and just below the 50 day moving average. This is bearish at present. The Upper Bollinger Band is falling which is bearish.
The SPX chart is more bullish than bearish for Tue Jun 23 2026 but bearish signals are growing.
SPX Stock Market Outlook review of Mon Jun 22 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 Mon Jun 22 2026 the down signal lost some 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. This is bearish.
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Relative Strength Index: The RSI signal is falling which is bearish.
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| Rate of Change: The rate of change is falling, signaling Tuesday 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 Tue Jun 23 2026
For Tuesday the day may see a bounce attempt in the early trading but then more selling should be expected. The technical indicators are overly bearish with just one signal, momentum, staying bullish. The closing candlestick is also bearish. While a large drop is not expected, a slightly lower close is still likely ahead of the inflation reports due out Thursday.
Potential Economic and Political Market Moving Events
Monday:
No reports
Tuesday:
9:45 Jun Flash manufacturing PMI is estimated to have fallen to 54.8 from 55.3 prior
9:45 Jun Flash services PMI is estimated to have risen to 51 from 50.9
Wednesday:
10:00 New home sales for May is estimated to have risen to 634K from 622K prior
4:00 Fed Board annual bank stress test results