Join Larry McMillan as he discusses the current state of the stock market on April 25, 2022.
Stocks have had trouble making a sustained move of late. In Figure 1, the major trend of $SPX is down (blue lines). However, within those trend lines, $SPX has been tightly range-bound between 4380 and 4500 for the past week. In more "normal" times, a 120-point range for $SPX over a week would be a lot of movement, but not in today's market.
Join Larry McMillan as he discusses the current state of the stock market on April 18, 2022.
$SPX has pulled back from its late-March rally, and in doing so raised the possibility that the bear market is still in force, but the jury is still out on that. The intermediate-term trend still appears to be down (blue lines on the accompanying chart). Shorter-term activity, however, shows a more positive bias in that the "modified Bollinger Bands" (mBB) are now moving higher. Realized volatility has begun to shrink modestly, and the Bands are pulling closer together.
Join Larry McMillan as he discusses the current state of the stock market on April 11, 2022.
Join Larry McMillan as he discusses the current state of the stock market on April 4, 2022.
The oversold rally that began in mid-March continued strongly through March 29th. That day, $SPX gapped up over double resistance at 4600, and showed strong internals. But then, in a somewhat diabolical way, $SPX turned south again, showing terrible internals and plunged sharply back below 4600 as the first quarter of 2022 came to a close. If that was a false upside breakout, it was one of the bear market's best tricks.
Join Larry McMillan as he discusses the current state of the stock market on March 28, 2022.
Join Larry McMillan as he discusses the current state of the stock market on March 21, 2022.
