Join Larry McMillan as he discusses the current state of the stock market on September 29, 2025.
Stocks made new all-time highs again this past week, but early in the week. Even then, breadth wasn't good. Now $SPX has pulled back slightly from those intraday all-time highs of Tuesday. Yes, there are overbought conditions, but more importantly there is the looming September 30th deadline for a possible government shutdown. The market seems to have been much more nervous about that in the last few days, especially since President Trump said that the government might shut down for a few days.
The Fed lowered rates by a quarter of a percent on Wednesday, and the market liked it. Many people had been expecting a "sell on the news" after that, but instead $SPX has plowed ahead to new all-time highs in a strong fashion. The $SPX chart remains very bullish. There is support at 6500 (the August highs), 6340-6360 (the August lows) and 6200 (the July lows). Those are all marked with horizontal red lines on the $SPX chart in Figure 1.
Join Larry McMillan as he discusses the current state of the stock market on September 15, 2025.
The market continues to plow through worries galore and continues to register new all-time highs. This is true for $SPX, $NDX (the NASDAQ-100; QQQ), and the Dow ($DJX; DIA), but not the Russell 2000 ($RUT; IWM). Yesterday's CPI report was benign, and so it seems that the path is clear for a rate cut at next week's FOMC meeting. $SPX responded accordingly by having one of its strongest days in weeks.
Join Larry McMillan as he discusses the current state of the stock market on September 8, 2025.
Join Larry McMillan as he discusses the current state of the stock market on September 2, 2025.
The positive tone set by Fed Chair Powell's speech a week ago (August 22nd) at the Jackson Hole Economic Symposium has continued throughout the week in various bullish ways. Initially, the strongest move belonged to the Dow ($DJX), which blasted to a substantial new all-time that day. It hasn't added to these gains yet.
At that same time, $SPX rallied to its old highs but couldn't break through until August 28th, and now it too stands at a new all-time closing and intraday high.
Join Larry McMillan as he discusses the current state of the stock market on August 25, 2025.
The $SPX Index has backed off slightly from its all-time highs at 6480, set last Friday. This is a modest correction, and the support levels at 6260, 6200, and 6150 are still in place. Any pullback to those levels followed by a resumption of the market rally would just be considered a correction in an ongoing bull market. However, a breakdown below 6150 would be quite negative.
