Weekly Stock Market Commentary 1/14/2022

By Lawrence G. McMillan

The $SPX Index fell back below 4700 and has been struggling ever since. It has returned to its former trading range (4500 – 4700). A close below 4500 would also be a close below December’s lows – often the hallmark of the beginning of a bear market. Meanwhile, a move above 4800 would return everything to a “bullish” status.

Equity-only put-call ratios are not on the same page surprisingly. The weighted ratio is rising, and so it is on a sell signal. The standard ratio is on a buy signal.

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