Join Larry McMillan as he discusses the current state of the stock market on April 21, 2025.
Join Larry McMillan as he discusses the current state of the stock market on April 14, 2025.
Join Larry McMillan as he discusses the current state of the stock market on April 8, 2025.
What had been a mediocre, oversold rally failed right where such rallies normally do -- at the declining 20-day moving average. It just so happened that the 200-day moving average of $SPX was in the same area. That was just over a week ago. Then, $SPX quickly declined to the lower edge of the trading range (near 5500) and found support once again.
Join Larry McMillan as he discusses the current state of the stock market on March 31, 2025.
The current rally in $SPX is behaving very much likely a typical oversold rally and not something stronger. $SPX rallied up to its declining 20-day Moving Average, and overshot it slightly. Then it backed off again. That is classic action for an oversold rally. In this particular case, $SPX also ran into its 200-day Moving Average, at the same level. The highs of this week are just below 5800, so that is resistance.
Join Larry McMillan as he discusses the current state of the stock market on March 24, 2025.
The stock market, as measured by $SPX, has tried to rally over the past week, with a couple of strong days to show for it. But resistance at or just above 5700 has proven to be strong, and so the rally has been repelled from that level. Oversold rallies typically reach and slightly exceed their declining 20-day moving averages. In this case, that moving average is at 5760 and falling rapidly. It looks more like the moving average will fall to meet $SPX, rather than $SPX rallying to meet the moving average.
