Stock Market Outlook entering the Week of June 8th = Uptrend
- ADX Directional Indicators: Uptrend
- Institutional Activity (Price & Volume): Uptrend
- On Balance Volume Indicator: Uptrend
ANALYSIS
The stock market outlook stays in an uptrend, while the S&P500 breached 6000 again.
The S&P500 ( $SPX ) gained 1.5% last week. The index sits ~7% above the 50-day moving average and ~4% above the 200-day moving average.
SPX Price & Volume Chart for June 08 2025
The ADX, Institutional Activity, and On-Balance Volume are all in bullish territory.
S&P Sector Performance from Week 23 of 2025
The Tech sector ( $XLK ) led sectors higher last week, while Consumer Staples were the worst. Energy ( $XLE ) improved to neutral bias.
Sector Style Performance from Week 23 of 2025
High Beta and Small Cap Growth ( $SPHB & IWO ) were the best performing styles, each gaining ~4%. Low beta ( $SPLV ) was the worst. High Dividend ( $SPHD ) improved to neutral bias.
Asset Class Performance from Week 23 2025
Oil ( $USO ) led assets higher last week, and moved from bearish to bullish bias in the process. U.S. Bonds ( $IEF ) were the worst asset, and moved back to bearish from neutral bias.
COMMENTARY
Short post today since it’s my birthday.
ISM manufacturing was inline, though still showing contraction (below 50). Services surprised to the downside and falling back into a contraction. Labor readings were mixed; JOLTS was slightly higher, while non-farm payrolls were slightly lower.
This week, we get May inflation data CPI/PPI and June Consumer Sentiment.
Best to Your Week!
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