Once the election was over, traders figured the market would be able to finally break out of the trading range -- and it did, although not in the way that many had envisioned. By the time the dust settled, $SPX was down 335 points on November 5th. This was a clear downside breakout from the previous trading range.
Join Larry McMillan as he discusses the current state of the stock market on November 3, 2026.
The market as measured by $SPX continues to trade in a narrow range between roughly 7600 and 7800. A clear breakout of that range would generate a momentum trade. Considering that the range is only about 3% of $SPX's value, it's amazing that it has lasted as long as it has. The broad market is presenting a different picture, and we'll get to that in the next article.
Join Larry McMillan as he discusses the current state of the stock market on October 26, 2026.
As time drags on, $SPX continues to trade within the trading range that has lasted since late July. This is marked in figure 1 by the box on the upper right. The current box has support at 7580-7620, which has been tested several times and is being tested again today. There is some resistance at 7750-7760 (the highs of several recent trading days), with more substantial resistance at the all-time highs, 7820-7840.
Join Larry McMillan as he discusses the current state of the stock market on October 19, 2026.
Join Larry McMillan as he discusses the current state of the stock market on October 13, 2026.
Things seemed so promising on Tuesday, when $SPX traded at new all-time intraday and closing highs. But almost immediately after the market closed that day, selling set in. While it hasn't been heavy selling, it has pushed $SPX back down into the previous trading range. Essentially, the upside breakout wasn't a breakout at all, but merely a slight extension of the trading range.
Join Larry McMillan as he discusses the current state of the stock market on October 5, 2026.
