Join Larry McMillan as he discusses the current state of the stock market on Monday, December 6, 2021.
Stocks have been down and volatile for the last week -- an unusual time of the year for that to be the case. The new omicron COVID variant is being blamed, but that was merely the catalyst for unleashing a lot of selling that has been building up. Market internals have been deteriorating for a long time.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 29, 2021.
With the market plunging this morning on news of a new COVID variant out of South Africa causing travel restrictions, we are going to attempt to work that into the market comment even though our data does not incorporate today's (Nov 26) trading. There is still resistance for $SPX near 4700, but more importantly, the $SPX chart will turn negative on a close below 4630.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 22, 2021.
Suddenly, there is once again a wide discrepancy in performance between two of the major indices -- $SPX and $NDX -- and the rest of the stock market. This is reflected by sell signals and negative readings in breadth and put-call ratios. However, the $SPX chart and the indicators involving $VIX and implied volatility remain bullish.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 15, 2021.
The major indices have had a very strong run since the beginning of October, and especially since breaking through to new all-time highs on October 21st. Now, they are taking a "breather," and some sell signals may be setting up. Support on $SPX is likely at 4525 4550, which is still 100 points below current levels.
Join Larry McMillan as he discusses the current state of the stock market on Monday, November 8, 2021.
We did not trade the October Seasonal this year, but I wanted to bring you up to date on the statistics for the trade now that the seasonal period has ended (it began with the close of trading on October 27th and ended with the close of November 2nd). This year, that was an $SPX gain of 108.88 points – the second largest point gain the 43-year history of the system. Percentage-wise, it was 2.4%, and that has been bested many times. Still, it was not a good trade to miss...
