EB Daily Market Report - Friday, March 7, 2025

Dear Members:

The market is under fire once again today with all of the major indexes lower. A few key observations.

All of the major indexes are now at or near technically oversold territory. For example, the RSI on the NASDAQ is 29 and on the S&P 30. These have been levels that have shown market bottoms in the past.

The S&P just tested key price support at 5667 and on the first attempt, has held.

The VIX remains elevated, still over 25, and favoring the bears, but remains well below the December 18 high even though the market is much lower.

Now, be clear; the market could move lower here. But the reward to risk appears to have shifted to the upside. But this is also a market where cash is king.

Let's keep an eye on today's low on the S&P of 5666. A close below that level could take stocks even lower. If we hold, we might be able to see at least some type of bounce.

Tom will be back with his Weekly Market Report on Monday.

At your service,

John Hopkins