As time drags on, $SPX continues to trade within the trading range that has lasted since late July. This is marked in figure 1 by the box on the upper right. The current box has support at 7580-7620, which has been tested several times and is being tested again today. There is some resistance at 7750-7760 (the highs of several recent trading days), with more substantial resistance at the all-time highs, 7820-7840.
Join Larry McMillan as he discusses the current state of the stock market on October 19, 2026.
Join Larry McMillan as he discusses the current state of the stock market on October 13, 2026.
Things seemed so promising on Tuesday, when $SPX traded at new all-time intraday and closing highs. But almost immediately after the market closed that day, selling set in. While it hasn't been heavy selling, it has pushed $SPX back down into the previous trading range. Essentially, the upside breakout wasn't a breakout at all, but merely a slight extension of the trading range.
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The stock market continues to be range-bound. $SPX is still solidly between support at 7580-7620 and resistance at 7780-7820. Those are the two red horizontal lines on the graph in Figure 1.
Join Larry McMillan as he discusses the current state of the stock market on September 28, 2026.
This market continues to be one with a huge split between the technical indicators. The market internals (breadth, put-call ratios, New Highs vs. New Lows) remain in terrible shape. However, the $SPX chart itself has regained a positive stance, with last Monday's gains breaking through the downtrend line that had existed. Moreover, the various indicators surrounding $VIX remain positive.
Join Larry McMillan as he discusses the current state of the stock market on September 21, 2026.
