To The Moon

By Lawrence G. McMillan There has been a considerable amount of intraday volatility, but $SPX has not changed much in net closing price. There is major resistance at the all-time highs, 7600-7620. There is strong support in the 7250-7275 area. Those are marked with horizontal lines on the chart in Figure 1. Also marked on that chart in Figure 1 is a triangle formation (pink lines) that show lower highs and higher lows. This formation is typically a precursor to a strong breakout, as long as it makes its move fairly soon. If the trading range action persists beyond the point of the triangle, then the process is voided. Equity-only put-call ratios have continued to climb, as there has been steady put buying even on days when the market has risen. As a result, these ratios both remain on sell

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on June 22, 2026. https://www.youtube.com/embed/NmRNToFnjj0$GOTU$ 

$TVIX$ $UVIX$  By Lawrence G. McMillan The market bounced back from its brief correction in early June, but $SPX has not yet recovered to new all-time highs. As a result, the $SPX chart itself is in a neutral state right now bound by resistance at 7600 (the all-time highs) and support at 7257 (last week's lows), with further support in the 7050-7175 range from late April. There was a gap on the $SPX chart that was filled yesterday, so it is no longer relevant. Many of our indicators are taking on a more positive tone, but not the equity-only put-call ratios which continue to rise. That is a bearish signal for the stock market when these ratios are trending higher. It seems that traders are buyin

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on June 15, 2026. https://www.youtube.com/embed/8Ucy1evEvxA$GOTU$ 

By Lawrence G. McMillan In all, the correction from the early June highs to the lows of this week was about 5%. That was enough to at least temporarily remove the "bullish" designation from the $SPX chart. The Index has now fallen below its 20-day moving average, and there is resistance in the 7500-7520 area. A rise back above that area might be enough to restore the bullish scenario, but for the now the index is in a short-term negative trend. There is support at this week's lows, 7237. Furthermore, there is a stronger support area in the 7050-7175 range, where $SPX traded in the latter half of April. Finally, there is major support at 7000, which had been resistance all during January and February. A decline below 7000 would be very negative for the chart and for stocks in general. Equit

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on June 8, 2026. https://www.youtube.com/embed/rQ2yUDWxYYk$GOTU$ 

$MVB.AU$ $CVB.AU$ $TVIX$  By Lawrence G. McMillan The S&P 500 Index ($SPX) has advanced on ten of the last eleven trading days. Needless to say, the Index chart has strong upward momentum. Media articles continue to focus on how overbought the market is, and how it’s certainly due for a correction. But “overbought does not mean sell.” Once again, we are reminded of John Maynard Keynes’ statement that the market can remain irrational for longer than you can remain solvent. That currently applies mostly to short sellers, but could also be directed towards under-invested institutions and those who have sold some stocks prematurely to raise cas

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on June 1, 2026. https://www.youtube.com/embed/9hrcgeqyXPI$GOTU$ 

$TVIX$ $UVIX$  By Lawrence G. McMillan This market is the epitome of our phrase, "overbought does not mean sell." It just keeps going higher, and now the rally has broadened enough so that the Dow ($DJX; DIA), NASDAQ-100 ($NDX; QQQ) and Russell 2000 ($RUT; IWM) are all doing the same. All of these indices, including $SPX, have made new all- time closing and intraday highs this week. $SPX has support at 7330 -- the lows from earlier this month. Below that there are various support areas: 7275, 7050-7175, and then a major support at 7000. Equity-only put-call ratios gave sell signals a week ago when they turned upward from very low levels on their charts. Those sell signals were confirmed by both

By Lawrence G. McMillan In 1973, inflation, interest rates, and impeachment dominated headlines during a brutal bear market. Today, a different set of "I's" is making news, yet stocks continue to push higher. In the large bear market of 1973-1974, it was common for the media to say that the market was worried about the three I’s: inflation, interest rates, and impeachment. Today, we have a huge bull market going on, and it apparently is not all that concerned with the current set of three I’s: inflation, interest rates, and Iran. And if the mid-term elections swing left, you could add the fourth i (impeachment) back into the mix as well. Obviously, the concerns over inflation and interest rates back in 1973 (during the OPEC Oil Embargo) were much larger than today’s concerns over the same