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Recent Blogs
May 22
By Lawrence G. McMillan
The action over the past few days has been just above those old relative highs at 2955, but has certainly not been...
May 21
By Lawrence G. McMillan
This article was originally published in ...
May 20
By Lawrence G. McMillan
This article was originally published in ...
By Lawrence G. McMillan
The action over the past few days has been just above those old relative highs at 2955, but has certainly not been a true breakout from the previous trading range. The high this week was 2980.
There is now support at that low from May 14th (2765), as well as the bottom of the trading range (2720) and then at 2650, where some work was done in late March and early April. The next resistance area if the market should rally further, is at 3000 (the 200-day moving average is there) and 3020 (the area of the July and September 2019 temporary highs.
Equity-only put-call ratios remain on buy signals, since they are still falling. The standard ratio (...