fbpx S&P 500 | Option Strategist

S&P 500

Weekly Stock Market Commentary 11/27/2020

By Lawrence G. McMillan

The stock market came into the Thanksgiving holiday in a very strong fashion -- continuing the strong rally that has taken place throughout November. A move above 3644 would be into new all-time intraday high territory. Once $SPX makes that move, there is no resistance in the traditional sense.

Meanwhile, on the downside, there is support just above 3500. A close below there would be very negative, for it would place $SPX back within the old trading range.

Larry McMillan Stock Market Update Video 11/23/2020

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, November 23rd, 2020.

Weekly Stock Market Commentary 11/20/2020

By Lawrence G. McMillan

The broad market, as measured by $SPX, finally reached a new all-time closing high this week, at 3626 on Tuesday, November 16th. It was unable to hold that level and has now fallen back a bit. In fact, it has closed back below the old September highs of 3588. That in itself is not a problem, but if $SPX were to close below 3500, that would be bearish.

Larry McMillan Stock Market Update Video 11/16/2020

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, November 16th, 2020.

Weekly Stock Market Commentary 11/13/2020

By Lawrence G. McMillan

Last Monday, the COVID-19 vaccine new caused $SPX to gap up 135 points on Monday's open. That was the largest percentage gap to a new all-time high in history.

As traders know, there's an old adage to "sell the news," especially if there has been anticipatory buying before "the news." And they did, drving $SPX back inside its 3200-3600 trading range.

Larry McMillan Stock Market Update Video 11/9/2020

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, November 9th, 2020.

Weekly Stock Market Commentary 11/6/2020

By Lawrence G. McMillan

Election-related or not, the move from the bottom to the top of the $SPX trading range in just four trading days was impressive. The trading range extends from 3200 to nearly 3600 (the all-time highs at 3588). The recent moves have pretty much obliterated what had been a support and resistance area near 3400-3430, so the edges of the range itself are the only meaningful support and resistance currently.

Larry McMillan Stock Market Update Video 11/2/2020

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, November 2nd, 2020.

Weekly Stock Market Commentary 10/30/2020

By Lawrence G. McMillan

The selling that began with a modest overbought condition on October 12th has snowballed into a major decline, capable of testing whether or not a bull market still exists. Now the only remaining near-term support area is at 3200. If that gives way, a pattern of lower highs and lower lows will be in place, and that is the mark of a bear market. That would be a game- changer.

Larry McMillan Stock Market Update Video 10/26/2020

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, October 26th, 2020.

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.

-->