Join Larry McMillan as he discusses the current state of the stock market on December 9, 2024.
The broad market continues to be strong, as most of the major indices are trading at new all-time highs now. This includes $SPX, $NDX, $DJX (the Dow), but not $RUT (the Russell 2000). As $SPX has pushed forward, many of our indicators have moved into overbought territory. However, few have confirmed sell signals.
Join Larry McMillan as he discusses the current state of the stock market on December 2, 2024.
The stock market has made new all-time highs this week, both on an intraday and a closing basis. $SPX has done so, and other major indices that have followed include the Dow Jones 30 Industrials ($DJX) and the Russell 2000 ($RUT). The NASDAQ-100 ($NDX) has not quite gotten there this week, after registering new all-time highs earlier in November.
Join Larry McMillan as he discusses the current state of the stock market on November 25, 2024.
$SPX, stalled out at about 6020, and has seen a modest amount of selling since November 8th. But the damage has been limited, and there is now a more positive development taking place: the gap down and sharp selloff on November 15th left a bearish island reversal in place on the $SPX chart. That gap has now been closed, thereby erasing the negative effects of that chart formation (green circle on the chart in Figure 1).
Stocks have struggled a little this week, after roaring higher post- election. On the $SPX chart, there is resistance in the 6010- 6020 area, where prices peaked on four separate days in the past week. That is minor resistance. The upside target for this move still remains as the +4å "modified Bollinger Band" (Mbb), which is now nearing 6070 and still rising.
Join Larry McMillan as he discusses the current state of the stock market on November 11, 2024.
The Presidential election victory by former President Donald Trump proved to be a very positive catalyst for stocks. $SPX gapped to a new all-time high on the next trading day after the election, as did many other broad-based indices. Since there is no formal overhead resistance, the target for this move is the +4å "modified Bollinger Band" (mBB), which is currently at 6030 and rising daily.
Join Larry McMillan as he discusses the current state of the stock market on November 4, 2024.
