Apr, 30, 2012
By Lawrence G. McMillan$SPX has essentially been trading sideways for about three weeks. The net result of this sideways action has been to relieve all of the overbought conditions that existed....
Apr, 26, 2012
By Lawrence G. McMillanThe total put-call ratio includes all the volume that takes place on listed index and equity option markets (not futures). Most of the time it’s not of great...
Apr, 26, 2012
By Lawrence G. McMillanThe bears have had many chances this month to do some serious damage to the market but they haven’t been able to. Perhaps they are waiting for the “sell in May and...
Apr, 25, 2012
By Lawrence G. McMillanThe market gapped higher on what has become 'typical' Apple earnings euphoria. Durable goods orders came in below expectations. Meanwhile, the Fed has notified us...
Apr, 20, 2012
By Lawrence G. McMillanThe Standard & Poors 500 ($SPX) chart (Figure 1) still shows heavy resistance at 1390. That level has been challenged on five of the last six trading days. So...
Apr, 19, 2012
By Lawrence G. McMillanThis market has seen a large increase in volatility in the last month or so, but this volatility has been accompanied by another characteristic: there is no follow-through to...
Apr, 16, 2012
By Lawrence G. McMillanOne should be aware of a potential problem in these ETN’s. I am not referring to the “net asset value” problem that engulfed the “Double VIX...
Apr, 13, 2012
By Lawrence G. McMillanVolatility has returned with a vengeance. The bulls are very excited about the rally of the last two days. Perhaps they are correct in their euphoria, but we don't yet see it...
Apr, 12, 2012
By Lawrence G. McMillanIn the last issue, we mentioned, on page 8, that the Composite Implied Volatility (CIV) indicator was on “sell alert.” Then in last week's Hotline update, we...
Apr, 12, 2012
By Lawrence G. McMillanAfter some minor selling last week, the Unemployment Report was used as an excuse for some heavy selling on Monday. Since the report came out when the market was closed (what...
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