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Recent Blogs
Oct 11
By Lawrence G. McMillan
Violent market movements have followed nearly every piece There are both bearish and bullish signals in place,...
Oct 10
By Lawrence G. McMillan
This article was originally published in ...
Oct 9
By Lawrence G. McMillan
This article was originally published in ...
By Lawrence G. McMillan
Violent market movements have followed nearly every piece There are both bearish and bullish signals in place, although the bears are being put to the test today.
$SPX has put in two spike lows this month -- one at 2892 and one at 2855. Those represent support. More important support levels exist near 2825 (the August lows) and 2720-2730 (the March and May lows). Overhead, there was resistance at 2960, which will be taken out this morning. Above there is a rather massive area of condensed trading in September, leading up to resistance at 3020- 3025 (the July and September highs, which are also the all-time highs).
Equity-only put-call ratios...