Prior Trading Day Summary
On Tue Oct 28 2025 stocks moved higher again setting more new records ahead of the Fed interest rate announcement due out today (Wed Oct 29 2025)
The SPX rose 15 points to close at 6890. Volume rose by 500 million shares to 5.8 billion but with 61% of all stocks moving lower on Tuesday.
The NASDAQ rose 190 points to close at 23,827. Volume was lower at 10.9 billion shares. 58% of all stocks were falling by the close.
The VIX index closed higher at 16.42.
Lets review the closing technical indicators from Tue Oct 28 2025 to see what to expect for market direction on Wed Oct 29 2025.
Stock Market Outlook: SPX Closing Chart For Tue Oct 28 2025
The index closed above the Upper Bollinger Band. This is a bullish and an overbought signal.
The closing candlestick is bullish for Wednesday but overbought. There are shadows top and bottom which signals a choppy day should be expected.
The 21 day moving average is rising and closed at 6716 which is bullish.
The 50 day moving average is rising and closed at 6612 which is bullish.
The 100 day moving average is rising and closed at 6436 which is bullish.
The 200 day moving average is rising and closed at 6189 which is bullish.
The Lower Bollinger Band is below the 50 day moving average which is bullish. The Upper Bollinger Band is moving higher which is bullish.
The SPX chart is strongly bullish. All moving averages are above 6100 which is bullish for further advances.
SPX Stock Market Outlook review of Tue Oct 28 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive. It is at overbought levels.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Fri Oct 24 2025. On Tuesday the up signal gained strength.
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Ultimate Oscillator: The Ultimate Oscillator is trending sideways, signaling no change expected for today.
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Slow Stochastic: The Slow Stochastic has an up signal in place and is overbought.
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Relative Strength Index: The RSI signal is rising and overbought.
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| Rate of Change: The rate of change is unchanged. It is signaling a potential sideways close on Wednesday. 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 resistance |
| 6590 is resistance |
| 6570 is support |
| 6550 is support |
| 6500 is support |
| 6450 is support |
| 6425 is support |
| 6400 is support |
| 6350 is support |
| 6325 is support |
| 6300 is support |
| 6250 is support |
| 6225 is support |
| 6200 is support |
Stock Market Outlook for Wed Oct 29 2025
For Wednesday I am expecting a choppy day especially in the morning. As the afternoon begins I expect stocks to move higher ahead of the anticipated Fed rate cut due out at 2:00 PM. After the rate cut don’t be surprised if there is a rally and then a dip back lower as investors “sell the news”. Wednesday will definitely be “all about the Fed’s” interest rate decision.
Potential Economic and Political Market Moving Events
Monday:
No reports will be released today due to the ongoing government shutdown.
Tuesday:
9:00 S&P Case-Shiller home price index rose 1.6%
10:00 Consumer confidence rose to 94.6
Wednesday:
10:00 Pending home sales are estimated to have fallen to 1.0% from 4.0% prior
Other reports are not expected due to the government shut down.
2:00 FOMC interest rate decision released
2:30 Fed Chair Powell press conference