Prior Trading Day Summary
On Mon Jun 8 2026 the market attempted a bounce but as the day wore on a lack of conviction saw buyers be selective and narrow the number of stocks they were buying. This meant by the close the indexes were only slightly higher.
The SPX rose 22 points to close at 7405. Volume fell to 5 billion and 52% of all volume was being traded lower. By the close, 51% of all stocks on the index were falling.
The NASDAQ did better, rising 220 points to end the day at 25929. Volume was 10.5 billion but 65% of that volume was being traded higher. 54% of al stocks were advancing on the index at the close as chip stocks in particular, recovered some of Friday’s losses.
Investors will be watching for Oracle’s earnings (ORCL) on Wednesday after close along with the latest inflation numbers due out on Wednesday before the open. These events from Wednesday may keep buyers on the sidelines today.
Let’s review the closing technical indicators from Mon Jun 8 2026 to see what they predict for Tue Jun 9 2026.
Stock Market Outlook: SPX Closing Chart For Mon Jun 8 2026
The index closed below the 21 day moving average although it managed to briefly touch it early in the day. It is also below the Upper Bollinger Band. This is bearish.
The closing candlestick is bearish for Tuesday but the long shadow indicates dips are also likely on Tuesday.
The 21 day moving average is rising and closed at 7476. This is bullish.
The 50 day moving average is rising and closed at 7174. This is bullish.
The 100 day moving average is rising and closed at 7076. Thit is bullish.
The 200 day moving average is rising and closed at 6840. This is bullish.
The Lower Bollinger Band is sideways which is bearish. The Upper Bollinger Band is heading lower which is also bearish. This could be the start of a Bollinger Bands Squeeze for this week.
The SPX chart is more bearish than bullish for June 9 but a second oversold bounce is likely.
SPX Stock Market Outlook review of Mon Jun 8 2026
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and negative. This is bearish.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Tue May 19 2026. On Mon Jun 8 2026 the down signal gained strength.
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Ultimate Oscillator: The Ultimate Oscillator is falling and oversold. A bounce is likely.
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Slow Stochastic: The Slow Stochastic has a down signal in place.
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Relative Strength Index: The RSI signal is rising and oversold. A bounce is likely.
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| Rate of Change: The rate of change is rising signaling today 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 |
| 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 resistance |
| 7300 is support |
| 7280 is support |
| 7250 is support |
| 7200 is support |
| 7175 is support |
| 7150 is support |
| 7125 is support |
| 7100 is support |
| 7050 is support |
| 7000 is support |
Stock Market Outlook for Tue Jun 9 2026
The market bounce on Monday was poor with a lack of momentum on the SPX due to buyers staying on the sidelines. The NASDAQ bounced better but overall a second bounce attempt seems more likely.
On Tuesday watch for a higher open followed by a dip and then a higher close.
Many investors will be on the sidelines as they wait for inflation numbers on Wednesday before the open and Oracle earnings on Wednesday after the close. Both of these could swing markets. On Wednesday if the CPI year-over-year jumps as estimated to 4.2%, stocks are probably heading lower so stay cautious today on trade sizes until we get the latest inflation report.
Potential Economic and Political Market Moving Events
Monday:
no reports scheduled
Tuesday:
6:00 NFIB optimism index is estimated to rise to 96.1 from 95.9 prior
8:30 April trade balance is estimated to -56.0 billion, better than the last reading of -$60.3 billion
10:00 Existing home sales for May are estimated at 4.05 million, up from 4.02 million prior
10:00 Wholesale inventories for April are estimated at 0.5% versus 1.3% prior
Wednesday:
8:30 CPI for May is estimated to fall slightly to 0.5% from 0.6% prior
8:30 CPI year-over-year is estimated to jump to 4.2% from 3.8% prior
8:30 Core CPI for May is estimated to fall to 0.3% from 0.4% prior
8:30 Core CPI year-over-year is estimated to rise to 2.9% from 2.8%
2:00 Monthly federal budget is estimated at -$292 billion versus -$316 billion prior