Homepage

Free Analysis Tools

Market Commentary

By Lawrence G. McMillan

The market continues to be volatile, with $SPX bounding from support at 1990 to resistance at 2065 swiftly in the past four days. Outside of that range, there is further support at 1975 (the October lows) and resistance at 2090 (the all-time highs). As a result, the $SPX chart remains neutral at this time.

Equity-only put-call ratios turned bullish in early January, and the standard ratio remains on a buy signal (barely) at this time (Figure 2), even though the 21-day moving average has curled upward over the past few days. On the other hand, the weighted put-call ratio is rolling over to a sell signal.

Market breadth has been erratic,...

Featured Products

Recorded Intensive Option Webinar:  Volatility Trading

A 4 hour seminar download detailing various volatility trading strategies

The main focus of this 4 hour seminar is not speculation, per se (although there will some discussion of it), but...

Options as a Strategic Investment: 5th Edition

Get your autographed copy of the revised edition of the Options Bible today!*  

Author:...
Probability Calculator Screenshot

Simulate the probability of making money in your stock or option position.

McMillan’s Probability Calculator is low-priced, easy-to-use software designed to estimate the...

The Option Strategist Newsletter

Analysis, Commentary, Education, and Specific Trading Recommendations on a weekly basis

In its 24th year of publication, The Option Strategist newsletter...

McMillan's Daily Volume Alerts

Daily option picks based on unusual option activity

Professional traders are well aware of the fact that an increase in a stock's option volume is often the precursor of a move by the...

Option Workbench 4.0

Serious Tools for Serious Option Traders

Option Workbench enables you to seek success in the options markets by giving you the potential to analyze volatility, risk and trading strategies...

McMillan's Daily Strategist

Trading or investing whether on margin or otherwise carries a high level of risk, and may not be suitable for all persons. Leverage can work against you as well as for you. Before deciding to trade or invest you should carefully consider your investment objectives, level of experience, and ability to tolerate risk. The possibility exists that you could sustain a loss of some or all of your initial investment or even more than your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and investing, and seek advice from an independent financial advisor if you have any doubts. Past performance is not necessarily indicative of future results.
Visit the Disclosure & Policies page for full website disclosures.