Prior Trading Day Summary:
Prior Trading Day Summary:On Mon Mar 24 2025 stocks finally managed to push above the 200 day moving average and close above it. The rally was strong enough that the index closed above the rapidly falling 21 day as well. The SPX rose 100 points, closing at 5767. 77% of volume was advancing and 72% of all stocks were climbing by the end of the day.
The NASDAQ rose 404 points ending the day at 18188. 78% of all volume and 65% of all stocks were rising by the close.
The day saw another important signal from the MACD technical indicator as it confirmed the up move.
Let’s review the SPX technical indicators at the close on Mon Mar 24 2025 to see if stocks might try to rally on Tue Mar 25 2025.
Stock Market Outlook: SPX Closing Chart For Mon Mar 24 2025
The index closed above the 200 day and 21 day. This is bullish.
The closing candlestick has no shadows as it closed at the high for the day. This is bullish although normally we can expect a morning dip after a strong rally that closes at the day’s high.
The 21 day moving average is starting to turn sideways and closed at 5747 which is bearish. The 21 day moving average fell below the 50 day on Friday Mar 7 and on Thursday Mar 13 it fell below the 100 day for a second down signal.
The 50 day moving average is falling and closed at 5914 which is bearish.
The 100 day moving average is falling and closed at 5853 which is bearish.
The 200 day moving average is rising and closed at 5702 which is bullish.
The Lower Bollinger Band is turning up which is bullish. The Upper Bollinger Band is turning lower which may signal a chance the selling is ending. We may see a Bollinger Bands Squeeze this week and a move higher.
For Tuesday the SPX chart is becoming bullish although a dip is likely on Tuesday.
SPX Stock Market Outlook review of Mon Mar 24 2025
Stock Market Outlook: Technical Indicators Review
Momentum: Momentum is rising and positive for the first time since Feb 20.
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MACD Histogram: MACD (Moving Averages Convergence / Divergence) issued an up signal on Friday Mar 21 2025. The up signal was confirmed on Mon Mar 24 2025.
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Ultimate Oscillator: The Ultimate Oscillator is rising and positive.
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Slow Stochastic: The Slow Stochastic has anak up signal in place and rising.
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Relative Strength Index: The RSI signal is rising.
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| Rate of Change: The rate of change signal is rising signaling a higher close is expected. 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 |
| 6000 is resistance |
| 5970 is resistance |
| 5950 is resistance |
| 5900 is resistance |
| 5890 is resistance |
| 5875 is resistance |
| 5850 is resistance |
| 5800 is resistance |
| 5775 is resistance |
| 5750 is resistance |
| 5730 is resistance |
| 5700 is support |
| 5650 is support |
| 5630 is support |
| 5600 is support |
| 5585 is support |
| 5550 is support |
| 5500 is support |
| 5450 is support |
Stock Market Outlook for Tue Mar 25 2025
Technical indicators are turning bullish and rising. The MACD technical indicator confirmed the next move is up.
The move on Monday was strong which large gains for many stocks. On Tuesday we should not be surprised if some of the rally is given back in the morning, but a higher close is expected for Tuesday.
Potential Economic and Political Market Moving Events
Monday:
9:45 S&P flash services PMI is expected to rise slightly to 51.5 from 51.0 prior
9:45 S&P flash manufacturing PMI is expected to dip to 51.5 from 52.7 prior
Tuesday:
9:00 S&P Case Shiller home price index if expected to rise to 4.6% from 4.5% prior
10:00 Consumer confidence is estimated to dip to 93.5 from 95 prior
10:00 New home sales are estimated to rise to 677,000 from 657,000 prior