Prior Trading Day Summary
On Monday stocks spent the day moving lower as investors returned to worrying about AI tech names. NVIDIA Stock (NVDA) closed lower ahead of their earnings due out tomorrow.
The S&P fell 61 points to close at 6672. Volume was higher by 200 million shares. 81% of all stocks were falling.
The NASDAQ fell 192 points to close at 22,708. Volume was lower by 1.1 billion shares at 10 billion. 73% of all stocks were moving lower by the close.
Let’s review the closing technical indicators from Mon Nov 17 2025 to see whether Tuesday will see further selling ahead of NVIDIA earnings.
Stock Market Outlook: SPX Closing Chart For Mon Nov 17 2025
The index closed below the Upper Bollinger Band, 21 day and 50 moving averages. This is bearish.
The closing candlestick is bearish for Tuesday but with a long shadow that points to another move lower.
The 21 day moving average is unchanged and closed at 6788 which is bearish.
The 50 day moving average is rising and closed at 6707 which is bullish.
The 100 day moving average is rising and closed at 6522 which is bullish.
The 200 day moving average is rising and closed at 6269 which is bullish.
The Lower Bollinger Band is below the 50 day moving average and moving sideways which is bearish. The Upper Bollinger Band is falling which is bearish and could be signaling a Bollinger Bands Squeeze is coming shortly.
The SPX chart has more bearish signals for Tuesday.
SPX Stock Market Outlook review of Mon Nov 17 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and negative.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Wed Nov 5. On Mon Nov 17 2025 the down signal was very strong and well beyond the readings of the Oct 10 sell-off which shows investor concern is growing.
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Ultimate Oscillator: The Ultimate Oscillator is falling.
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Slow Stochastic: The Slow Stochastic has a sharp down signal.
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Relative Strength Index: The RSI signal is falling sharply and near oversold readings..
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| Rate of Change: The rate of change is falling, signaling Tuesday will be 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 |
| 6900 is resistance |
| 6875 is resistance |
| 6850 is resistance |
| 6800 is resistance |
| 6775 is resistance |
| 6750 is resistance |
| 6715 is resistance |
| 6700 is resistance |
| 6675 is resistance |
| 6650 is resistance |
| 6625 is resistance |
| 6600 is support |
| 6590 is support |
| 6570 is support |
| 6550 is support |
| 6500 is support |
| 6450 is support |
| 6425 is support |
| 6400 is support |
Stock Market Outlook for Tue Nov 18 2025
All technical indicators are bearish and pointing to lower valuations for stocks. The S&P closed at 6672. The nearest support, now that the 50 day has been broken through is at 6600. The 100 day is at 6522 which is in-between two strong support levels, namely the 6550 and 6500 valuations. The market action now depends strongly on NVIDIA’s earnings which are released on Wednesday after the close. A strong earnings beat to turn around the selling but a flat or lower earnings will see more selling.
For Tue Nov 18 2025 stocks are set to continue to face selling and a lower close. Meanwhile the Empire State manufacturing reading came in strongly at 18.7. Analysts were stunned at the reading. They had expected a decline from 10 to 5.5. Monday’s number shows the economy continues to hum along.
Potential Economic and Political Market Moving Events
Monday:
8:30 Empire State manufacturing survey stunned analysts coming in at 18.7, three times higher than estimates of 5.5
Tuesday:
9:15 Industrial production
10:00 Factory orders
10:00 Home builder confidence index