fbpx S&P 500 | Option Strategist

S&P 500

Weekly Stock Market Commentary 8/13/2021

By Lawrence G. McMillan

The two large-cap indices, $SPX and $DJX (the Dow) have moved to new all-time highs. But now $NDX is falling behind, and the Russell 2000 ($RUT) has been lagging badly all along. Of ourse, this pattern -- or similar ones -- has been in effect since mid-June (and really, even before that in the case of the Russell). As a result, negative divergences persist, but they can last for a long time even while $SPX is merrily moving to new highs.

Weekly Stock Market Commentary 8/6/2021

By Lawrence G. McMillan

On the surface, everything appears fine: $SPX made a new closing all-time high twice this week once after a swift upward reversal off of support near 4370. However, it has not made a new intraday all-time high since July 29th, so in reality it is trapped in a very tight trading range between 4370 and 4430 (the all-time highs) A breakout of this range in either direction should give the Index some short-term momentum.

Larry McMillan Stock Market Update Video 8/2/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, August 2nd, 2021.

Weekly Stock Market Commentary 7/30/2021

By Lawrence G. McMillan

As $SPX has recovered from its July 19th lows and driven to new all-time highs, not a lot has changed regarding the overall picture. It's still the big-cap tech stocks leading the way, as the NASDAQ- 100 ($NDX; QQQ) and Dow ($DJX; DIA) are near all-time highs as well. But the internals of the market are still weak as manifested in the Russell 2000 Index ($RUT; IWM).

Larry McMillan Stock Market Update Video 7/26/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, July 26th, 2021.

Weekly Stock Market Commentary 7/16/2021

By Lawrence G. McMillan

Despite deteriorating internals in the market, $SPX plowed ahead to register a new all-time high on 13 of 14 consecutive trading days.  That streak was interrupted yesterday.  

Larry McMillan Stock Market Update Video 7/12/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, June 14th, 2021.

Weekly Stock Market Commentary 7/9/2021

By Lawrence G. McMillan

 

Leadership once again is in the $SPX Index, although the NASDAQ Composite  and the NASDAQ-100 ($NDX; QQQ) are strong as well. Since the $SPX chart is our primary indicator, we retain a "core" bullish position as long as $SPX holds  above support: 4260 (the early June highs), 4165, and 4060   the latter two being the twice-tested lows of June and May, respectively.  

Weekly Stock Market Commentary 7/2/2021

By Lawrence G. McMillan

 

When $SPX broke out to new all-time highs in early June, it seemed labored, and that breakout quickly faded.  But now, in late June and early July, $SPX has moved to new all-time highs with more authority -- having closed at a new all-time high for the sixth trading day in a row.  

Weekly Stock Market Commentary 6/18/2021

By Lawrence G. McMillan

The broad market ($SPX) has failed to convincingly break out to a new high, and now it is back below the old (early May) highs of 4238. A close below 4190 would indicate to me that the attempted upside breakout had failed.

Despite recent market weakness over the past four days, the equity-only put-call ratios remain on buy signals. The standard ratio (Figure 2) flattened out yesterday, but the weighted ratio continues to drop. These ratios will remain on buy signals as long as they are declining.

Pages

Option Strategist
Blog Search

Recent Blog Posts

Trading or investing whether on margin or otherwise carries a high level of risk, and may not be suitable for all persons. Leverage can work against you as well as for you. Before deciding to trade or invest you should carefully consider your investment objectives, level of experience, and ability to tolerate risk. The possibility exists that you could sustain a loss of some or all of your initial investment or even more than your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and investing, and seek advice from an independent financial advisor if you have any doubts. Past performance is not necessarily indicative of future results.
Visit the Disclosure & Policies page for full website disclosures.

-->