By Lawrence G. McMillan

Leadership once again is in the $SPX Index, although the NASDAQ Composite  and the NASDAQ-100 ($NDX; QQQ) are strong as well. Since the $SPX chart is our primary indicator, we retain a "core" bullish position as long as $SPX holds  above support: 4260 (the early June highs), 4165, and 4060   the latter two being the twice-tested lows of June and May, respectively.  

By Lawrence G. McMillan

When $SPX broke out to new all-time highs in early June, it seemed labored, and that breakout quickly faded.  But now, in late June and early July, $SPX has moved to new all-time highs with more authority -- having closed at a new all-time high for the sixth trading day in a row.  

By Lawrence G. McMillan

When NASDAQ leads the way, the market tends to respond strongly especially in the tech-dominated market of the last 15 months. That's what's happening low: both the NASDAQ Composite and the NASDAQ-100 ($NDX; QQQ) broke out to new all-time highs this week, after having lagged behind in May. Led by this strong move in NASDAQ, $SPX has once again closed at a new all-time high.

By Lawrence G. McMillan

The broad market ($SPX) has failed to convincingly break out to a new high, and now it is back below the old (early May) highs of 4238. A close below 4190 would indicate to me that the attempted upside breakout had failed.

Despite recent market weakness over the past four days, the equity-only put-call ratios remain on buy signals. The standard ratio (Figure 2) flattened out yesterday, but the weighted ratio continues to drop. These ratios will remain on buy signals as long as they are declining.

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, June 14th, 2021.

By Lawrence G. McMillan

ARK Innovation ETF (ARKK) recently gave both a McMillan Volatility Bands and Put-Call Ratio buy signal and broke it's recent downtrend; therefore we expect higher prices for the etf. See the charts below.

By Lawrence G. McMillan

By Lawrence G. McMillan

We have completed the Profit and Loss and Rate Of Return calculations for 2020. The following table sums up one of the best years in our history – the best since the 1990's in percentage terms (+42.2%), and the best ever in terms of total profits (+$146,830). We will soon be sending out a detailed article discussing the various facets of these rather broad categories.

By Lawrence G. McMillan

Join Larry McMillan as he discusses the current state of the stock market on Monday, June 7th, 2021.

By Lawrence G. McMillan

Normally, we have “Naked Put Writes” in this section of the newsletter. But with the explosion in implied volatility and stock price in several “short squeeze” stocks (or “meme stocks,” if you prefer: a meme stock is any publicly traded company that is benefitting from the fact that investors are using social media to drive interest in the company's shares).

The following table shows the current status of the most expensive of these in terms of implied volatility: