Join Larry McMillan as he discusses the current state of the stock market on February 3, 2025.
Join Larry McMillan as he discusses the current state of the stock market on January 27, 2025.
Join Larry McMillan as he discusses the current state of the stock market on January 21, 2025.
A monster oversold rally -- or perhaps something more -- has arisen in the wake of a rather benign CPI report. There is now renewed hope for several rate cuts this year (several being two, according to the predictions of the Fed futures markets). The reversal began as an oversold rally last Monday, January 13th after $SPX had broken down below support and traded down to 5730. From there, the market gapped up 90 points on Wednesday and just kept going.
Join Larry McMillan as he discusses the current state of the stock market on January 14, 2025.
The stock market saw some seasonally unusual selling at the end of 2024, and now there has been some continuation in 2025. That's not to say there haven't been some strong rally days as well, but it does leave $SPX locked in the 5870-6100 trading range. A clear breakout of that range on a closing price basis should provide momentum for a further trade in the direction of that breakout.
Join Larry McMillan as he discusses the current state of the stock market on January 6, 2025.
The old year ended with a thud, as stocks sold off pretty sharply over the final three days. In doing so, the closing support level at 5870 held once again. So, that is certainly an even more important area than it was before. As long as $SPX holds above that level, the $SPX chart still has a bullish slant. However, if $SPX closes decisively below 5870, then heavier selling should develop.
Join Larry McMillan as he discusses the current state of the stock market on December 30, 2024.
