Prior Trading Day Summary:
On Tuesday stocks saw sellers take profits to start the next quarter. This is typical for July, which often ends lower. With most stocks higher over the past couple of months, investors decided to take a few profits and this left the index lower by the close.
The S&P slipped just 7 points by the close. Volume rose to 6.3 billion. 69% of all volume was trading to the upside despite the lower close.
The NASDAQ fell 166 points to end at 20,202. Volume washigher at 8.8 billion shares traded, 49% of the volume was being traded higher.
Lets review the SPX technical indicators from the close on Tue Jul 1 2025 to see what to expect for Wed Jul 2 2025.
Stock Market Outlook: SPX Closing Chart For Tue Jul 1 2025
The index closed at he Upper Bollinger Band. This is bullish.
The closing candlestick is bullish for Wednesday.
The 21 day moving average is rising and closed at 6037 which is bullish.
The 50 day moving average is rising and closed at 5846 which is bullish. The 50 day is continuing above the 100 day moving average.
The 100 day moving average is rising and closed at 5837 which is bullish.
The 200 day moving average is rising and closed at 5740 which is bullish.
The Lower Bollinger Band is above the 100 day and turning sideways which is neutral. The Upper Bollinger Band is rising which is bullish. The outlook is bullish for stocks.
The SPX chart is more bullish than bearish.
SPX Stock Market Outlook review of Tue Jul 1 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Thu June 26. On Tue Jul 1 2025 the up signal was stronger.
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Ultimate Oscillator: The Ultimate Oscillator is falling.
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Slow Stochastic: The Slow Stochastic has an up signal in place.
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Relative Strength Index: The RSI signal is falling.
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| Rate of Change: The rate of change signal is falling signaling Wednesday 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 |
| 6225 is resistance |
| 6200 is resistance |
| 6175 is resistance |
| 6150 is resistance |
| 6125 is resistance |
| 6100 is resistance |
| 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 support |
| 5850 is support |
| 5800 is support |
| 5785 is support |
| 5750 is support |
| 5700 is support |
| 5650 is support |
| 5630 is support |
| 5600 is support |
Stock Market Outlook for Tue Jul 1 2025
For Wed Jul 2 2025 dips should be expected as investors will continue to see profit-taking. Despite this, the outlook remains bullish going forward.
Potential Economic and Political Market Moving Events
Monday:
9:45 Chicago Business Barometer for June came in at 40.5 which was slightly better than expected
Tuesday:
9:30 Fed Chair Powell speech
9:45 S&P final US manufacturing PMI was higher than estimated, coming in at 52.9
10:00 Construction spending was lower than estimated at -0.3%
10:00 Job openings was higher than estimated, coming in at 7.8 billion.
10:00 ISM manufacturing was higher than estimated at 49%
During the day auto sales are being released. They are estimated at 15.4 million
Wednesday:
8:15 ADP employment is estimated to rise to 100,000 for June.