Prior Trading Day Summary:
On Mon Jun 23 2025 stocks shook off any concerns of the conflict between Israel and Iran expanding. Many investors felt that the USA strike on Iran on Saturday should end the fighting. With word Monday evening of a ceasefire and comments from President Trump calling the fighting over, should be more than enough to see stocks move higher on Tuesday.
On Monday the SPX rose 57 points to close at 6025 on 5.7 billion shares traded.
The NASDAQ rose 183 points to close at 19630. 9.4 billion shares traded with 58% of all stocks on the NASDAQ climbing.
Lets review the SPX technical indicators from the close on Mon Jun 23 2025 to see what we should expect for Tue Jun 24 2025.
Stock Market Outlook: SPX Closing Chart For Mon Jun 23 2025
The index closed higher above the 21 day moving average. This is bullish.
The closing candlestick is bullish for Tuesday. A bit of weakness at the open is possible but it will be an opportunity to setup more trades, should it occur.
The 21 day moving average is rising and closed at 5960 which is bullish and the rally of the 21 day is back picking up steam.
The 50 day moving average is rising and closed at 5748 which is bullish. The 50 day is above the 200 day moving average for a 4th up signal. This wiped out the 2nd down signal from March. Only one down signal remains from March 7.
The 100 day moving average is rising and closed at 5796 which is bullish.
The 200 day moving average is rising and closed at 5715 which is bullish.
The Lower Bollinger Band is above the 100 day and rising which is bullish. The Upper Bollinger Band is rising which is bullish. The Bollinger Bands Squeeze is starting to show signs it may end with stocks higher.
For Mon Jun 23 2025 the SPX chart is more bullish than bearish.
SPX Stock Market Outlook review of Mon Jun 23 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and barely positive.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Fri May 30. The down signal was stronger at the close on Mon Jun 23 2025.
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Ultimate Oscillator: The Ultimate Oscillator is rising.
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Slow Stochastic: The Slow Stochastic has a down signal in place but could change to an up signal on Tuesday.
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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 Tuesday 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 |
| 6075 is resistance |
| 6050 is resistance |
| 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 support |
| 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 Tue Jun 24 2025
The technical indicators mixed with the MACD signal gaining more strength to the downside but other indicators signaling higher for stocks.
On Tuesday with news of a ceasefire in the fighting between Israel and Iran, stocks should rally for a second day. Watch for any change in tone from Fed Chair Powell on Tuesday morning as he testifies before the House Financial Service Committee.
Potential Economic and Political Market Moving Events
Monday:
9:45 S&P flash services PMI is was slightly above estimates at 53.1 but below the prior reading of 53.7
9:45 S&P flash manufacturing PMI came in higher than estimated at 52.0
10:00 Existing home sales for May rose more than estimated, reaching 4.03 million versus 4.0 million prior
Tuesday:
9:00 Case-Shiller home price index of 20 cities is estimated to slip to 4.0% from 4.1% prior
10:00 Consumer confidence for June is estimated at 99.5, up from 98.0 prior
10:00 Fed Chair Powell testifies to House Financial Service Committee