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Recent Blogs
Jan 25
By Lawrence G. McMillan
Join Larry McMillan as he discusses the current state of the stock market on Monday, January 25th, 2021.
... Jan 22
By Lawrence G. McMillan
It may seem as if the market is slowing down, but if it is, it's only in a relative sense. $SPX made new all-time...
Jan 21
By Lawrence G. McMillan
This article was originally published in ...
By Lawrence G. McMillan
It may seem as if the market is slowing down, but if it is, it's only in a relative sense. $SPX made new all-time intraday and closing highs on each of the last two days, and $NDX (QQQ) did the same. The Dow ($DJX; DIA) and Russell 2000 (IWM) are only one day removed from all-time closing highs.
All one really needs to know is that the chart of $SPX (and the others) remains strongly positive. The first support level is at 3725-3750. Below there, the next support area is 3630-3650.
Let's begin with the equity-only put-call ratios. They continue to be extremely overbought (that is, very low on their charts and not far from 20-year lows). They...