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Market Commentary

By Lawrence G. McMillan

The stock market advance is relentless.  It has refused to correct for more than a day since bottoming over a month ago and over 230 points lower., but it is up another 12 points in overnight trading as I write this.  The chart of $SPX is bullish because it remains in an uptrend.

Equity-only put-call ratios remain on buy signals, as they continue to drop sharply almost daily.    

Market breadth has been rather poor of late.  In fact, twice this week both breadth indicators slipped into sell signals, only to bounce back up and cancel out those sell signals the very next day.  As a result, at the current time, the...

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