Join Larry McMillan as he discusses the current state of the stock market on April 20, 2026.
The major indices are on a roll, with S&P 500 ($SPX; SPY), NASDAQ-100 ($NDX; QQQ) and now Russell 2000 ($RUT; IWM) all making new all-time highs simultaneously. Back in January and February, $SPX made a new all-time high by a few points on several occasions, but it was never able to put together a strong breakout rally as follow-through. Eventually, that was onerous, and the market fell. But now it appears to be adding to the breakout gains, which is a very positive sign.
Join Larry McMillan as he discusses the current state of the stock market on April 13, 2026.
Join Larry McMillan as he discusses the current state of the stock market on April 6, 2026.
Volatility continues to be elevated both in terms of realized and implied. $SPX dropped sharply early in the week as various support levels gave way on the $SPX chart. Of primary concern was the violation of the 6475-6550 support area. Eventually, $SPX bottomed on Tuesday, with a low near 6330 which was also a minor low last August. There should also be support near 6200 (the lows of last July).
Join Larry McMillan as he discusses the current state of the stock market on March 30, 2026.
The major averages continue to decline, and they are in a seriously bearish mode. Moreover, the pattern of lower highs and lower lows persists, so there is a distinct downtrend line that can be drawn (see Figure 1, purple line).
Join Larry McMillan as he discusses the current state of the stock market on March 23, 2026.
The downtrend on the $SPX chart is obvious, even to the casual observer. Not only are there now lower highs and lower lows, but the short-term moving averages as well as the "modified Bollinger Bands" are all sloping downwards.
