Join Larry McMillan as he discusses the current state of the stock market on January 8, 2024.
Heavy selling hit the market this week. Part of that was due to the fact that traders didn't want to sell in 2023, because of the taxes that would be owed. So, they sold in 2024, deferring the tax bill for a year. But there is more to the story than that, as overbought conditions had built up to the point where sell signals are now appearing in numerous places although not in the implied volatility ($VIX) complex.
Join Larry McMillan as he discusses the current state of the stock market on January 2, 2024.
Stocks continue to plow higher, with most major indices making new highs for 2023 just as the year is coming to an end. Furthermore, $SPX is just a short distance from its all-time highs, set in January 2022, so new all-time highs seem certain to be attained early in 2024.
Join Larry McMillan as he discusses the current state of the stock market on December 26, 2023.
There was finally a correction of sorts this week, as some late afternoon selling on December 20th ballooned into a 70-point decline in a matter of less than two hours. Considering that the market had been more or less straight up for days even weeks and it was thus quite overbought, it was not a total surprise to see something of that nature.
Join Larry McMillan as he discusses the current state of the stock market on December 18, 2023.
Join Larry McMillan as he discusses the current state of the stock market on December 11, 2023.
