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Weekly Stock Market Commentary 10/22/2021

By Lawrence G. McMillan

The rally that began with an upside gap move on October 14th has turned out to be very strong, and $SPX has now traded at and closed at a new all-time high. The Dow is very close to following suit, but NASDAQ and the Russell 2000 lag behind. More about that later.

There is still a chance that $SPX is merely at the top of a trading range that extends roughly from 4300 to current levels, at 4550. A clear breakout above 4560 or so would dispel that notion.

Larry McMillan Stock Market Update Video 10/18/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, October 18, 2021.

Weekly Stock Market Commentary 10/15/2021

By Lawrence G. McMillan

The broad stock market has strongly reversed upward over the past 48 hours. Tuesday night, in overnight Globex trading, the S&P futures were trading at 4320. This morning, they are at 4460. That's a pretty big increase in 48 hours.

Larry McMillan Stock Market Update Video 10/11/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, October 11th, 2021.

Weekly Stock Market Commentary 10/8/2021

By Lawrence G. McMillan

Sentiment is changing nearly daily, producing wide swings in $SPX. But the Index is still in a downtrend, with lower highs and lower lows on its chart (blue lines in Figure 1). The lower end of the range is just below 4300, as there were several rather strong reversals from that area in the past week. On the upside, there is resistance up to 4465. A broader view shows three support areas (horizontal red lines in Figure 1) at 4233, 4160, and 4060 and, of course, resistance at the all-time highs (4545).

Larry McMillan Stock Market Update Video 10/4/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, October 4, 2021.

Weekly Stock Market Commentary 10/1/2021

By Lawrence G. McMillan

As is often the case, September turned out to be a bearish month, as $SPX made a new all-time high on the 2nd trading day of the month, but then reversed and traded down to the lows of the month on the last trading day. This action has put the $SPX chart in a downtrend, as there are now lower highs and lower lows (on a closing basis). A move below the mid-month low at 4305 would confirm this bearishness. We now enter October, which has a reputation as a "bear killer," but the first part of the month can be ugly before lows are reached later in the month.

Larry McMillan Stock Market Update Video 9/27/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, September 27, 2021.

Larry McMillan Stock Market Update Video 9/20/2021

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, September 20th, 2021.

Weekly Stock Market Commentary 9/17/2021

By Lawrence G. McMillan

For now, $SPX has tentatively found support near 4435. But that only occurred this week, so it is hardly seasoned or tested. The first truly tested support area is still the major one at 4370, and that is not too great of a distance from today's levels. As long as the support at 4370 holds, the bulls are still in control although it might not completely seem like it right now. A violation of that support area, though, would change things in a negative manner.

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