Prior Trading Day Summary:
On Tue Jun 10 2025 the indexes continued to climb but in a choppy day. By the close the SPX was up 33 points to 6038. Volume rose by 200 million shares to 4.9 billion and 61% of all volume and 62% of all stocks were climbing.
The NASDAQ rose 123 points to close at 19715. 60% of al stocks on the NASDAQ were rising by the close.
Lets review the technical indicators from the close on Tue Jun 10 2025 to see what we should expect for Wed Jun 11 2025.
Stock Market Outlook: SPX Closing Chart For Tue Jun 10 2025
The index closed above all major moving averages and at the Upper Bollinger Band. This is bullish.
The closing candlestick is bullish for Wednesday but with signals that the index is overbought.
The 21 day moving average is rising and closed at 5923 which is bullish. There are now just two down signals left from the late March and early April SPX collapse.
The 50 day moving average is rising and closed at 5646 which is bullish.
The 100 day moving average is rising and closed at 5760 which is bullish.
The 200 day moving average is rising and closed at 5691 which is bullish.
The Lower Bollinger Band is above the 100 day with the Upper Bollinger Band falling into a Bollinger Bands Squeeze. At present it looks like the index could fall back as the squeeze gets underway but it is too early to give much of an accurate reading.
For Wed Jun 11 2025 the SPX chart is more bullish than bearish with some signals advising the index could be entering overbought signals..
SPX Stock Market Outlook review for Tue Jun 10 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is falling and positive..
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued a down signal on Fri May 30. The down signal was gone on Tue Jun 10 2025 and left behind a neutral signal (neither up or down)
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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 rising and entering overbought readings.
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| Rate of Change: The rate of change signal is rising signaling Wednesday will end the day 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 |
| 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 resistance |
| 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 Wed Jun 11 2025
For Wednesday the outlook is for a higher day with a few dips. The S&P is expected to move higher and end the day higher.
Potential Economic and Political Market Moving Events
Monday:
10:00 Wholesale inventories were better than estimated, coming in at 0.2% versus 0.4% prior
Tuesday:
6:00 NFIB optimism index rose more than expected to 98.8
Wednesday:
8:30 Consumer Price Index is estimated unchanged at 0.2%
8:30 CPI year-over-year is estimated at 2.4%
8:30 Core CPI is estimated at 0.3% for May 2025.
8:30 Core CPI year-over-year is estimated at 2.9%
2:00 Monthly US Federal Budget is estimated at -$310 billion.
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