Aug, 01, 2017
By Lawrence G. McMillanI’m not really big on Dow Theory because its signals seem to be rather nebulous. Even the practitioners of the Theory cannot necessarily agree on when signals occur and...
Jul, 31, 2017
By Lawrence G. McMillanWe have often talked about the seasonality of $VIX in past issues (although not for a while). Figure 5 shows the Composite $VIX for a year. A composite chart is...
Jul, 28, 2017
By Lawrence G. McMillanThe $SPX chart is unabashedly bullish. It continues to make new highs, remaining above the trailing moving averages and holding above support. Thus the intermediate-term...
Jul, 25, 2017
By Lawrence G. McMillanThis week, there has been some publicity about the fact that $VIX is (or has?) set the record for consecutive closes below 10. However, both articles that I saw (one by...
Jul, 21, 2017
By Lawrence G. McMillanBulls have been totally dominant again, over the past week (and really since last November). The gap upside breakout over the minor downtrend line (blue line in Figure 1), on...
Jul, 19, 2017
By Lawrence G. McMillanWe wrote about “years ending in 7” in the February 3, 2017, issue. The data in Figure 5 is the same graph that was published at that time. It includes data for the...
Jul, 17, 2017
By Lawrence G. McMillanWhen $SPX broke down below 2420 last week, and there was a bit of panic selling, the term structure of the $VIX futures (and of the CBOE Volatility Indices) immediately...
Jul, 14, 2017
By Lawrence G. McMillanFirst and foremost, the most bullish of our indicators is the $SPX chart itself (although some of our other indicators seem to be grudgingly improving as well). The 2400 area...
Jul, 10, 2017
By Lawrence G. McMillanWe wrote about “years ending in ‘7'” earlier this year. The pattern is that these are bad years for the stock market, for the most part. They generally start off fine and rally...
Jul, 07, 2017
By Lawrence G. McMillanThis stock market has been able to avoid a meaningful correction for quite some time. But now $SPX has closed below support at 2420, and the failed upside breakout of mid-June...
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