Stocks exploded out of a massive oversold condition this week and put together the best 3-day rally since....1931. That sounds a bit ominous, doesn't it? 1931 and 1932 were two of the worst stock market years on record. In any case, the bulls are enjoying the rally, and it has generated some buy signals from our indicators.
Join McMillan Analysis Corporation president, Lawrence G. McMillan, as he discusses the current state of the stock market.
Stocks broke below the December 2018 lows this week, which was a support area that many had expected to hold. This market has blown through every supposed support area there was. The decline held at 2280. The 2280 level was last seen in February 2017. So in a matter of three weeks, the market has wiped out three years worth of gains.
Bear markets move fast, but this is one of the fastest of them all -- on the order of the most volatile markets of all time, 1931-1933.
Join Larry McMillan as he discussed the current state of the stock market during this volatile period.
Join McMillan Analysis Corporation president, Lawrence G. McMillan, as he discusses the current state of the stock market.
Join McMillan Analysis Corporation president, Lawrence G. McMillan, as he discusses the current state of the stock market.
The markets are moving so quickly right now that it's difficult to assess some of the technical indicators. This is the first time since the 2008 financial crisis that volatility-based hedges are keeping traders afloat.
After two monster rally days this week (Monday and Wednesday), $SPX has resumed its decline with a vengeance. The lows of last Friday, February 28th, at 2885 still represent support although in a market moving this fast, is there really any "support?"
Join McMillan Analysis Corporation president, Lawrence G. McMillan, as he discusses the current state of the stock market.
A week ago, $SPX was still pushing higher. Then, in the blink of an eye, $SPX gapped sharply downward on Monday morning -- leaving a huge gap on the chart that likely isn't going to be filled anytime soon.
Nearly every indicator we have is in oversold territory, and there will be buy signals in the relatively near futures, but there are none at this time. Support levels don't mean much right now, so it's fruitless to try to identify them.
Join McMillan Analysis Corporation president, Lawrence G. McMillan, as he discusses the current state of the stock market.
