Join Larry McMillan as he discusses the current state of the stock market on Monday, November 15, 2021.
The major indices have had a very strong run since the beginning of October, and especially since breaking through to new all-time highs on October 21st. Now, they are taking a "breather," and some sell signals may be setting up. Support on $SPX is likely at 4525 4550, which is still 100 points below current levels.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 8, 2021.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 1, 2021.
Major Indices have broken out to new all-time highs. This includes $SPX, the Dow ($DJX), and NASDAQ ($NDX; QQQ) -- just barely for QQQ. The Russell 2000 ($RUT; IWM) is noticeably lagging. In any case, we use $SPX as "the market," and it is strong. This breakout has re-established a "bullish" rating for the $SPX chart.
Join Larry McMillan as he discusses the current state of the stock market on Monday, October 25, 2021.
The rally that began with an upside gap move on October 14th has turned out to be very strong, and $SPX has now traded at and closed at a new all-time high. The Dow is very close to following suit, but NASDAQ and the Russell 2000 lag behind. More about that later.
There is still a chance that $SPX is merely at the top of a trading range that extends roughly from 4300 to current levels, at 4550. A clear breakout above 4560 or so would dispel that notion.
Join Larry McMillan as he discusses the current state of the stock market on Monday, October 18, 2021.
The broad stock market has strongly reversed upward over the past 48 hours. Tuesday night, in overnight Globex trading, the S&P futures were trading at 4320. This morning, they are at 4460. That's a pretty big increase in 48 hours.
Join Larry McMillan as he discusses the current state of the stock market on Monday, October 11th, 2021.
