Join Larry McMillan as he discusses the current state of the stock market on September 16, 2024.
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.
Join Larry McMillan as he discusses the current state of the stock market on September 9, 2024.
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.
Join Larry McMillan as he discusses the current state of the stock market on September 3, 2024.
Join Larry McMillan as he discusses the current state of the stock market on August 26, 2024.
The rally that began with an upward intraday reversal on August 5th continues to plow ahead. It has now brought $SPX back to nearly its all-time highs. The pattern of lower highs has been broken, and all that remains for the bulls to re- establish complete control is for $SPX to trade above 5670. That is probably going to happen.
Join Larry McMillan as he discusses the current state of the stock market on August 19, 2024.
The stock market's rally since bottoming out on August 5th has been historic. The speed with which the correction and the recovery have taken place is astounding. This type of price action has been evident elsewhere, too, sometimes with even greater velocity ($VIX, for example).
