These charts show the cracks in the stock market are widening

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found Lawrence G. McMillanOpinion: These charts show the cracks in the stock market are wideningS&P 500 technical indicators point to further weakeningLast Updated: April 4, 2026 at 9:24 a.m. ETFirst Published: April 2, 2026 at 5:43 p.m. ETShareResizeListen(7 min) Photo: Getty Images/iStockThe S&P 500 Index SPX is in a downtrend and has broken multiple support levels. It finally closed below its –4σ “modified Bollinger band,” which eventually set up a McMillan volatility band buy signal (green “B” on the SPX chart below).The McMillan volatility band buy signal will remain in effect until SPX reaches either its target (the +4σ band) or closes below its stop (the –4σ band). SPX did not close above 6,615 — the Chandelier stop for short sales (of the SPX). There is still resistance in the 6,615-6,670 area, including the declining 20-day moving average, the 200-day moving average, and resistance from earlier in March. The SPX chart remains in a downtrend. About the Author Lawrence G. McMillanLawrence G. McMillan is a columnist for MarketWatch and editor of the "MarketWatch Options Trader" newsletter. He is president of McMillan Analysis, an investment and commodity-trading adviser.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.