Join Larry McMillan as he discusses the current state of the stock market on June 2, 2025.
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.
Join Larry McMillan as he discusses the current state of the stock market on May 27, 2025.
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.
Join Larry McMillan as he discusses the current state of the stock market on May 19, 2025.
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.
Join Larry McMillan as he discusses the current state of the stock market on May 12, 2025.
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).
Join Larry McMillan as he discusses the current state of the stock market on May 6, 2025.
$SPX has risen for eight days in a row and is off to a positive start today, which would make it nine. This type of action has been accompanied by buy signals from breadth, equity-only put-call ratios, and MVB -- not to mention short-term buy signals such as "$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.
