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Free Weekly Stock Market Commentary 5/30/2025

By Lawrence G. McMillan

Last weekend, tariffs against Europe were postponed, and the stock market took that as a very favorable sign. When traders returned after the Memorial Day weekend, $SPX gapped higher on what turned out to be a very strong day for the big-cap stocks. The gap from that day extends down to 5830, and it would probably be a positive thing if that were filled. A move below 5700 would be negative. There is resistance at last week's highs near 5970 and also at the all-time highs of 6150.

Free Weekly Stock Market Commentary 5/23/2025

By Lawrence G. McMillan

The broad market continued to rally through May 20th -- even shrugging off a downgrade of US debt over the weekend. But on Wednesday (May 21st), a poorly received US Bond auction finally sent the market spiraling downward 100 points. That was enough to generate some sell signals.

Free Weekly Stock Market Commentary 5/16/2025

By Lawrence G. McMillan

Stocks have continued to rally, after last weekend's positive tariff meeting between the U.S. and China. $SPX gapped higher on Monday, blasting right through former resistance at 5700 and 5800, and thus establishing a new bullish pattern on its chart.

Free Weekly Stock Market Commentary 5/9/2025

By Lawrence G. McMillan

The market rallied early this week, peaking out at about 5700 on $SPX. A modest pullback has taken place since then. There is resistance from there on up to 5800. A close above 5800 would be bullish. Otherwise, the SPX chart remains bearish.

There are multiple support areas on down to the early April lows at 4850-4950. They are marked with horizontal red lines on the $SPX chart in Figure 1. There is one gap left on the chart (circled in Figure 1).

Free Weekly Stock Market Commentary 5/2/2025

By Lawrence G. McMillan

$SPX has risen for eight days in a row and is off to a positive start today, which would make it nine. This type of action has been accompanied by buy signals from breadth, equity-only put-call ratios, and MVB -- not to mention short-term buy signals such as "$VIX crossover" and "oscillator differential." Still, as impressive as all that is, the $SPX chart is still bearish because it's still in a potential downtrend.

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