EB Daily Market Report - Friday, October 25, 2024

Dear Members.

We're just over a week away from elections with the bulls seemingly content no matter the outcome with all of the major indexes higher and with the NASDAQ hitting a new all time high.

It's been quite an interesting few days with the NASDAQ taking a pounding on Wednesday and now two days later getting it all back plus some. This has the bears wondering what its going to take to get prices lower.

The VIX is lower today but still remaining elevated "just in case" something were to come up out of the blue. But overall market confidence is high with the S&P back within striking distance of its all time high.

That all time high of 5878 is the target for the bulls with Wednesday's low of 5762 now support. Those are the levels to keep an eye on for further clues as to where the market is headed. Perhaps we'll learn a lot more next week when the biggest of the biggest names report their numbers. 

Tom will be back Monday with his Weekly Market Report.

Hope you have a restful weekend!

At your service,

John Hopkins