This Is Not a Normal Market

By Lawrence G. McMillan

If you’ve been following the market closely, you’ve likely noticed that conditions have changed.

Volatility is rising. Trends are becoming less reliable. And sentiment indicators are beginning to shift in a more defensive direction.

This is the type of environment where many traders struggle—not because opportunities disappear, but because the margin for error becomes much smaller.

In markets like this, discipline and structure matter more than ever.

When Conditions Change, Your Approach Should Too

During strong, trending markets, it’s often possible to rely on momentum and broad participation.

That is not what we’re seeing now. Instead, we’re seeing:

• Increased volatility across indices
• Weakening breadth beneath the surface
• More frequent reversals and failed breakouts

These are classic characteristics of a more difficult trading environment—one where a systematic, data-driven approach becomes essential.

How We’re Navigating This Market

At McMillan Analysis, we rely on a set of time-tested indicators and systems to guide our decisions, including:

• Equity-only put-call ratios
• Volatility measures such as $VIX and term structure
• Breadth and trend indicators
• McMillan Volatility Bands (MVB)

These tools help us remove emotion from the process and focus on probabilities, not predictions.

But more importantly, they allow us to adapt as conditions evolve—which is critical in a market like this.

A More Structured, Daily Approach

To bring all of this together in a practical, actionable format, we created The Daily Strategist.

It’s designed to provide:

• Clear, data-driven market analysis
• Specific trade setups with defined structure
• Ongoing updates as conditions change
• A disciplined framework for navigating volatility

Delivered twice daily, it reflects exactly how we approach the market in real time.

Learn More

If you’re looking for a more structured, professional approach to trading in today’s environment, you can learn more about The Daily Strategist here:

In markets like this, the difference isn’t effort—it’s approach.