Correction-a-go-go

Friday 21 November 2025

The Market Ear explores.

Not your normal market

SPX futures so far today: high 6791, low 6588. Extreme volatility continues to shake this market. SPX is well below the trend channel, as well as trading below the 50 day (starting to slope negatively). Must hold at 6600, resistance at 6800.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.