Monday saw stocks spend much of the morning moving sideways and then dipping just after the lunch hour. That dip down to 4275 was the low for the day and brought in buyers who stepped up and bought stocks. This pushed the index to another new all-time high of 4292 with a close at 4290 for a rise of 9 points. The index closed new the high of the day which pressured the MACD indicator to confirming the up signal from Friday. Here are the technical indicator closing signals from Monday.
Stock Market Outlook Chart Comments At The Close on Mon Jun 28 2021
The S&P closed once again at the Upper Bollinger Band which is pressuring the Upper Bollinger Band to rise. The Lower Bollinger Band is falling which is ending the most recent Bollinger Bands Squeeze.
The closing candlestick on Monday is again bearish for Tuesday.
The 21, 50, 100 and 200 day moving averages are climbing. The 21 day moving average is climbing further above the 50 day. These are all bullish signals.
At the close on Monday there is only the candlestick that is bearish. The rest of the chart is bullish for the start of the week.
Stock Market Outlook review of Mon Jun 28 2021
Stock Market Outlook: Technical Indicators Review:
Momentum: Momentum is rising slightly and positive.
- Settings: For momentum I use a 10 period when studying market direction.
MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Friday June 25. That up signal was confirmed today, Monday June 28.
- Settings: For MACD Histogram, I am using the Fast Points set at 13, Slow Points at 26 and Smoothing at 9.
Ultimate Oscillator: The Ultimate Oscillator is falling.
- Settings: The Ultimate Oscillator settings are: Period 1 is 5, Period 2 is 10, Period 3 is 15, Factor 1 is 4, Factor 2 is 2 and Factor 3 is 1. These are not the default settings but are the settings I use with the S&P 500 chart set for 1 to 3 months.
Slow Stochastic: The Slow Stochastic has an up signal in place and is signaling overbought.
Settings: For the Slow Stochastic I use the K period of 14 and D period of 3. The Slow Stochastic tries to predict the market direction further out than just one day.
Relative Strength Index: The RSI signal is rising.
- Settings: The relative strength index is set for a period of 5 which gives it 5 days of market movement to monitor. It is often the first indicator to show an overbought or oversold signal.
Rate of Change: The rate of change signal is rising.
- 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.
Support and Resistance Levels To Be Aware Of:
4290 is resistance
4270 is resistance
4250 is resistance
4225 is light support
4200 is light support and where the 50 day moving average rests
4175 is light support
4150 is light support
4100 is light support
4070 is very light support
4050 is light support and just below the 100 day moving average rests
4000 is good support
3900 is support
3850 is support and just below the 200 day moving average
3800 is support
3750 is good support
3700 is light support
3680 is light support
3600 is strong support
Stock Market Outlook for Tomorrow – Tue Jun 29 2021
For Tuesday investors should expect a dip near the open which is common when the index closing at the high of the day, especially when it is a new high and that new high is sitting right at resistance.
Despite that, the Moving Average Convergence / Divergence issued a new up signal on Friday which was strongly confirmed today at the close. Even if Tuesday sees some weakness, it won’t matter. The outlook is bullish.
We may not see much of a change in the outlook for stocks until the released of the June non-farm payroll numbers on Friday.
Tuesday should see some dips, especially near the open but the outlook remains higher for the index by the close.
Stock Market Outlook Archives
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Stock Market Outlook For Fri May 1 2026 – Overbought But Higher
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Stock Market Outlook For Thu Apr 30 2026 – Dips Likely Possible Lower Close
Morning Investing Strategy Notes for Wed Apr 29 2026
Stock Market Outlook For Wed Apr 29 2026 – Choppy But Higher Ahead Of More Earnings
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