EB Daily Market Report - Friday, May 24, 2024

Dear Members.

First, below is a link to our Spring Membership Special - always our best deal of the year! Check it out.

https://www.earningsbeats.com/public/Spring-Special-2022N-2-2.cfm

Next, The DOW really took a beating yesterday and is gaining a little bit back but its the NASDAQ that is shining today as it tries to erase a large portion of yesterday's losses as the bulls continue to ride the coattails of NVDA's blowout earnings.

You could see the fear pick up yesterday as the VIX spiked over 13 but today it's settled down as jitters cooled after some Fed Governors put out hawkish vibes that could keep rates higher for longer.

That swoosh down in the Dow yesterday did cause some technical damage but the same cannot be said of the S&P and NASDAQ with both remaining comfortably above all key moving averages. 

We're getting ready to enter a 3 day holiday weekend so the market will be closed until Tuesday. In the meantime, barring some major selling into the close we have to give the edge to the bulls and Tom will be back early next week with his Weekly Market Report.

Enjoy the long weekend!

At your service,

John Hopkins