We're proud to announce that McMillan's Volatility Bands Signal Scanner now includes all Cryptocurrencies including Bitcoin, Ethereum, Dogecoin, etc.
Each morning, you will receive an email containing the new MVB buy & sell signals from our curated list of tradable assets including stocks, ETFs, futures, and now cryptocurrencies.
Join Larry McMillan as he discusses the current state of the stock market on Monday, May 17th, 2021.
On Friday, May 7th, $SPX broke out to a new all-time high and so did the Dow ($DJX). However, after an early Monday morning rally, things reversed badly, and $SPX dropped sharply for the first three days this week, losing a whopping 173 $SPX points.
But there was no follow-through the next day, and in fact $SPX has rallied strongly, regaining the 4120 level and more.
Larry McMillan recently sat down with David Keller of Stockcharts.com for their Behind The Charts series where Larry discusses his origins in the markets and the current environment. Click here to watch the video or view below.
From early March through mid-April, $SPX was on a tear. Since then, it went mostly moved sideways, while establishing a support area near 4120. Now it's broken out to the upside again. Below 4120, there is support near 4000 (the March highs), but that is an area that was never tested, since $SPX just blew right through the March highs on a double gap move higher in early April. Finally, the support at 3850-3870 is still important, for that is the area from which the current leg of this rally was launched.
Join Larry McMillan as he discusses the current state of the stock market on Monday, May 10th, 2021.
Whenever the market has an extended bull run, such as it's having now, it begins to put a lot of distance between the current value of $SPX and its 200-day Moving Average. Inevitably, some "analyst" posts the fact that "$SPX is x% above its 200-day Moving Average" and then alleges that disaster is at hand. Usually, a deluge of similar analyses follows. Those types of statements are usually wrong, or at least misleading. Two things that are rarely explored in these articles are: 1) when is disaster going to be at hand, and 2) is percent really the measure we want to use, rather than standard deviations?
Join Larry McMillan as he discusses the current state of the stock market on Monday, May 3rd, 2021.
The pace of the market's advance has slowed from the torrid run that it had between March 26th and April 16th, but $SPX is still making new all-time highs almost every day.
$SPX has three major support levels, all noted with horizontal red lines on the chart in Figure 1: 4120 (which is the daily lows of several days during April), 4000 (which was the March high), and 3850-3870 (which is the area from which the current leg of this bull market rally emanated on March 26th.
Join Larry McMillan as he discusses the current state of the stock market on Monday, April 26th, 2021.
