Bulletin
Investor Alert

New York Markets Close in:

Lawrence G. McMillan

MarketWatch Options Trader Archives Subscribe

March 18, 2021, 10:58 a.m. EDT

Stay bullish on the stock market by adding this core position

By Lawrence G. McMillan

The S&P 500 index has managed to slog through the heavy resistance area at 3870-3950 and break out to new all-time highs, both on an intraday and closing basis. 

As was the case last week, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.43% continues to outperform the S&P /zigman2/quotes/210599714/realtime SPX -0.97% and is leading the way. Small caps, as represented by the Russell 2000 Index /zigman2/quotes/210598147/delayed RUT -0.75% /zigman2/quotes/209961116/composite IWM -0.68% have started to lag behind over the past few days, though, and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -1.31% is lagging well behind, having made its highs in mid-February. Things would look a lot better if the Nasdaq Composite, or at least the NASDAQ-100 /zigman2/quotes/210598364/realtime NDX -1.47% /zigman2/quotes/208575548/composite QQQ -1.46% could join the party. 

As it is, there should be support for the S&P in the old resistance area: 3870-3950. A close back below 3870 would be very negative, for it would mean that the recent upside breakout was a false one. 

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,907.72
-146.22 -0.43%
Volume: 0.00
Feb. 3, 2023 2:16p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,139.19
-40.57 -0.97%
Volume: 0.00
Feb. 3, 2023 2:16p
loading...
/zigman2/quotes/210598147/delayed
US : US Composite
1,986.29
-14.94 -0.75%
Volume: 1.27M
Feb. 3, 2023 2:01p
loading...
/zigman2/quotes/209961116/composite
US : U.S.: NYSE Arca
$ 196.98
-1.34 -0.68%
Volume: 16.92M
Feb. 3, 2023 2:16p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
12,041.42
-159.40 -1.31%
Volume: 4.53B
Feb. 3, 2023 2:16p
loading...
/zigman2/quotes/210598364/realtime
US : Nasdaq
12,615.38
-187.76 -1.47%
Volume: 962,273
Feb. 3, 2023 2:16p
loading...
/zigman2/quotes/208575548/composite
US : U.S.: Nasdaq
$ 307.16
-4.56 -1.46%
Volume: 56.37M
Feb. 3, 2023 2:16p
loading...

Partner Center

Link to MarketWatch's Slice.