The broad market has stalled out at about 5870 and has pulled back from there. So, that is short-term resistance. The sharp pullback on October 31st didn't quite reach the support level at 5670, but it came close. So there is a trading range between 5670 and 5870 in effect now, but it is highly likely that the range will not be able to contain a post-election market.
Join Larry McMillan as he discusses the current state of the stock market on October 28, 2024.
The market has stalled out. For several days (and today is included as well), it has tried to forge through 5860 but has been unable to do so. There was a minor pullback this week, to 5760, but so far it has not been much of a problem except for the deterioration it caused in some of the market internals (more about that later). The support zone of 5670-5770 remains intact, and this week's pullback penetrated just the top of that zone, and then the market bounced higher.
Join Larry McMillan as he discusses the current state of the stock market on October 21, 2024.
The stock market, as measured by the S&P 500 Index ($SPX) continues to make new all-time highs. The market internals have generally improved as well, thereby giving positive confirmation of those new highs. There is support in the 5670-5770 area.
Join Larry McMillan as he discusses the current state of the stock market on October 14, 2024.
After breaking out decisively to new all-time highs in mid- September, $SPX was having some trouble after that. It had been mired in a trading range between 5670 and 5770 for nearly three weeks. But this week, on October 9th, $SPX broke out again to new all-time highs, and it's pressing further to the upside today (October 11th).
Join Larry McMillan as he discusses the current state of the stock market on October 7, 2024.
Join Larry McMillan as he discusses the current state of the stock market on September 30, 2024.
