EB Daily Market Report - Friday, May 30, 2025
Dear Members.
We're getting ready to put another trading week and month in the books with all of the major indexes lower and as traders assess everything from tariffs to economic reports to earnings reports to make smart trading decisions.
Even with the selling today both the S&P and NASDAQ remain above all key technical levels; technically the bulls remain in charge.
The VIX is slightly elevated but not enough to be alarmed, but it did climb above 20 at one point so it's worth keeping an eye on. In addition, it's worth noting that government bond yields have fallen enough this past week; one less thing for traders to worry about.
Bottom line is the bulls continue to have the edge here as we get ready to head into a new month. Let's keep an eye on 5800 on the S&P; the 20 day moving average is right above that level and the 200 day is just below. If that level were to go then we might need to get a bit more cautious.
Tom will be back with his Weekly Market Report on Monday.
At your service,
John Hopkins