For over a week now, strong selloffs have been followed fairly quickly by strong rallies. This is the type of action that occurs in a trading range environment, and we might well be in one of those for a while now.
There is resistance at 6900 (the all-time highs). Furthermore, support emerged at 6630 (last Friday's lows) to go along with the stronger support level in the 6500-6550 area. Today's low (so far) was 6646, which would reinforce that general area 6630-6646 as support.
Join Larry McMillan as he discusses the current state of the stock market on November 10, 2025.
Join Larry McMillan as he discusses the current state of the stock market on November 3, 2025.
The market eventually shrugged off the most recent "tariff tantrum" and moved to new all-time highs. The breakout came on two gap days to the upside -- very strong action. That created support at the old highs, near 6750. There is also the major support below there at 6500-6550.
Join Larry McMillan as he discusses the current state of the stock market on October 27, 2025.
Volatility exploded between October 10th and October 17th, but in the end, it didn't have its usual bearish effect. Rather, $SPX found support in the 6500-6550 area multiple times, and once that held, the effects of higher volatility didn't seem to matter much at all. Now $SPX is making new all-time highs this morning.
Join Larry McMillan as he discusses the current state of the stock market on October 20, 2025.
The market has definitely run into some trouble, and this time it might be significant. However, $SPX has held at a well- defined support level several times now, so that gives us a clear demarcation line between bullish and bearish on the chart.
Trouble initially began recently on October 10th, when the new round of China tariffs was threatened. The market threw a "tariff tantrum," and stock prices plunged. The lows that day were near 6500.
Join Larry McMillan as he discusses the current state of the stock market on October 13, 2025.
