Join Larry McMillan as he discusses the current state of the stock market on February 3, 2025.
Join Larry McMillan as he discusses the current state of the stock market on January 27, 2025.
The inauguration of President Trump seemed to spur the market this week, after a strong rally the previous week. $SPX has now advanced well over 300 points since its upward reversal on Monday, January 13th. In doing so, it has left three gaps on its chart. Short- term gaps like that are often closed fairly quickly, but the momentum is strong now. Another close above 6100 today would be a two-day confirmation of the new upside breakout.
Join Larry McMillan as he discusses the current state of the stock market on January 21, 2025.
A monster oversold rally -- or perhaps something more -- has arisen in the wake of a rather benign CPI report. There is now renewed hope for several rate cuts this year (several being two, according to the predictions of the Fed futures markets). The reversal began as an oversold rally last Monday, January 13th after $SPX had broken down below support and traded down to 5730. From there, the market gapped up 90 points on Wednesday and just kept going.
Join Larry McMillan as he discusses the current state of the stock market on January 14, 2025.
The stock market saw some seasonally unusual selling at the end of 2024, and now there has been some continuation in 2025. That's not to say there haven't been some strong rally days as well, but it does leave $SPX locked in the 5870-6100 trading range. A clear breakout of that range on a closing price basis should provide momentum for a further trade in the direction of that breakout.
Much of what is written below was written a year ago, when the Santa Claus rally also produced a loss. At that time, $SPX rallied immediately from there and never looked back. But the analysis is still valid.
When the typical Santa Claus Rally seven day trading period produces a loss, it is generally a short term problem for stocks. This was stated, poetically, by the system’s creator, the late Yale Hirsch: “If Santa Claus should fail to call, bears may come to Broad and Wall.”
Join Larry McMillan as he discusses the current state of the stock market on January 6, 2025.
