$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on August 3, 2026. https://www.youtube.com/embed/ysPanmtoR3s$GOTU$ 

$TVIX$ $UVIX$ $DECP$  By Lawrence G. McMillan   Despite one downward probe on July 29th, $SPX has managed to trade in a range and close at almost the same price every day. Near- term resistance is at 7430. After that failure on the 29th, the market bounced off the 7300 level with a vengeance the next day, so that is support. Even so, if one looks at the chart of $SPX in Figure 1, it is obvious that there is a new downtrend line that can be drawn, connecting the failed rally attempts that took place during July. There is support at 7300 and then 7240, with potential further support near the rising 200-day moving average in the 7100 area (that a

$TVIX$ $UVIX$ $DECP$  By Lawrence G. McMillan   Despite one downward probe on July 29th, $SPX has managed to trade in a range and close at almost the same price every day. Near- term resistance is at 7430. After that failure on the 29th, the market bounced off the 7300 level with a vengeance the next day, so that is support. Even so, if one looks at the chart of $SPX in Figure 1, it is obvious that there is a new downtrend line that can be drawn, connecting the failed rally attempts that took place during July. There is support at 7300 and then 7240, with potential further support near the rising 200-day moving average in the 7100 area (that a

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on July 27, 2026. https://www.youtube.com/embed/BJtmFg4jZY0$GOTU$ 

$DECU$ $QQQY$ $XDTE$  By Lawrence G. McMillan The market has been frustrating to many over the past two months since new all-time highs were made in early June. Bulls expected another attempt at new highs by now, while bears expected a larger correction (given the uncertainties of Iran, interest rates, etc.). But the fact is, $SPX has remained in a trading range over that time. There is currently resistance at 7580 (July's highs) and then at the all-time highs in the 7600-7620 area. Support was broken slightly yesterday, as $SPX probed downward, but there is support at 7300 or slightly above that level, with further support at the July lows near 72

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on July 21, 2026. https://www.youtube.com/embed/5Ia26thpowI$GOTU$ 

$RSEE$ $QQQP$ $JULD$  By Lawrence G. McMillan It is once again time to consider that $VIX may have bottomed for the year. It is a common occurrence for $VIX to make its annual lows in July and then begin to rise in August. Sometimes that rise is stupendous, as it was two years ago. Most of the time the annual peak for $VIX is reached in October, which is when the market often sells into a strong bottom. We can compose a seasonal chart of $VIX. Chart 1 encompasses the years 1989 through 2025 (the most recent full year of trading). While there is $VIX data for earlier years, including 1987 and even 1988 distorts things too much. The data in Chart 1 u

$DECU$ $QQQY$ $XDTE$  By Lawrence G. McMillan Buying the dip has been working on an intraday basis recently, but the larger picture is that there are dips to buy almost every day. That means that $SPX is not making much progress. Despite breaking out on the upside from the triangle formation that had existed, it has run into resistance at 7580 and has failed to challenge the all-time highs at 7600-7620. This keeps the $SPX chart from being upgraded to "bullish." Rather, it is range-bound at best. There is support at 7420 the lows of early July. Then below that the lower side of the triangle is still in place, and a breakdown below 7300 would be neg

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on July 13, 2026. https://www.youtube.com/embed/LHMRDAvU_OU$GOTU$ 

By Lawrence G. McMillan This week, $SPX has tried to break out over the top of the triangle formation that has inhibited price movement since early June. Indicators have improved somewhat, so that is certainly a possibility. However, the next resistance level at 7600-7620 is the all-time highs, and there would need to be a clear breakout over that level in order to turn the $SPX chart to a fully "bullish" status. There is support at 7420 (tested briefly a couple of times in the past week), with strong support at 7300, near the bottom of the triangle. A move below 7300 would be quite negative, and would probably indicate a quick test of longer-term support in the 7050- 7100 area. Equity-only put-call ratios have been rising for over a month, and that is a bearish weight on the stock market.

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$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on July 6, 2026. https://www.youtube.com/embed/VpZH4zOHnhY$GOTU$ 

By Lawrence G. McMillan The market continues to consolidate in the triangle formation that we had pointed out previously. It is currently trying to break out on the upside. The pink lines on the chart in Figure 1 define the triangle. In a broad sense, a breakout above 7500 would be positive, or a breakdown below 7300 would be negative.   The equity-only put-call ratios are still rising (see Figures 2 and 3). That is, even though $SPX has rallied over the past few days, traders are still buying puts as hedges, if not necessarily for pure speculation. In either case, these ratios will remain on their sell signals for the stock market until they roll over and begin to decline.   A more positive note has been the improvement in breadth recently . The NYSE-based breadth oscillator has

$GOTU$  By Lawrence G. McMillan Join Larry McMillan as he discusses the current state of the stock market on June 29, 2026. https://www.youtube.com/embed/4EMV9dQZBls$GOTU$ 

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$GOTU$