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Free Weekly Stock Market Commentary 10/11/2024

By Lawrence G. McMillan

After breaking out decisively to new all-time highs in mid- September, $SPX was having some trouble after that. It had been mired in a trading range between 5670 and 5770 for nearly three weeks. But this week, on October 9th, $SPX broke out again to new all-time highs, and it's pressing further to the upside today (October 11th).

Larry McMillan Stock Market Update Video 9/30/2024

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on September 30, 2024.

Free Weekly Stock Market Commentary 9/27/2024

By Lawrence G. McMillan

After breaking out to new highs at the end of the previous week, there was only one minor pullback this week, and it was a successful retest of the 5670 breakout level for $SPX. New all-time highs continue to be registered both on an intraday and a closing basis daily. So, the upside breakout to new all-time highs has been confirmed with supportive price action.

Free Weekly Stock Market Commentary 9/20/2024

By Lawrence G. McMillan

After bumping up against resistance once again in the 5670 area, $SPX finally exploded on through, one day after the Fed lowered rates by 50 basis points. A second day's close above 5670 will confirm the breakout and will warrant a "core" bullish position in the Index.

There should now be support throughout the former trading range, 5560 5670. If $SPX falls back below 5670, then it would have to be considered a false upside breakout, though.

Larry McMillan Stock Market Update Video 9/16/2024

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on September 16, 2024.

Free Weekly Stock Market Commentary 9/13/2024

By Lawrence G. McMillan

A week ago, things looked rather bearish, with $SPX having broken down from a 5560-5650 trading range, and plummeting quickly to 5400. An oversold rally ensued, but by Wednesday of this week, $SPX was plunging again and reached that 5400 level for a second time. For whatever reason, buyers emerged en masse at that point, and $SPX has rallied 230 points in about two trading days.

Larry McMillan Stock Market Update Video 9/9/2024

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on September 9, 2024.

Free Weekly Stock Market Commentary 9/6/2024

By Lawrence G. McMillan

The broad market traded in a fairly tight range between 5560 and 5650 for eleven trading days. Eventually, after the Labor Day holiday, $SPX broke down sharply, losing 120 points intraday in one day. That breakdown now leaves heavy overhead resistance not only in the 5560-5650 range, but at the all-time highs (5670) as well.

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