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Sep 26 2019
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Recent Blogs
Dec 14
By Lawrence G. McMillan
The bears have a tight grasp on this market right now, which is a bit surprising since it is so late in the...
Dec 10
By Lawrence G. McMillan
The action in the stock market is getting more volatile, at least in realized terms (implied volatility has not...
Nov 30
By Lawrence G. McMillan
There have been a number of positive developments in the past week or so: buy signals, oversold conditions...
By Lawrence G. McMillan
The bears have a tight grasp on this market right now, which is a bit surprising since it is so late in the calendar year. Typically by this time, even in bear markets, there is something of a year- end rally.
New post-October lows were established this week when $SPX traded down to 2583 on Monday. That confirms that this is a bear market, in case you had any doubts.
Resistance has developed near 2680, which is just below the declining 20-day Moving Average. The larger resistance area is the one at 2800-2820. If $SPX were to rise above there, then the bear market would no longer be in existence.
On the downside, there is support in the...