EB Daily Market Report - Friday, March 21, 2025

Dear Members.

The market was getting hit hard earlier in the session when the White House released comments that there could be some "flexibility" on tariffs which traders seemed to like. Accordingly, even though all of the major indexes are red, they are well off session lows.

For sure the market has been held hostage to uncertainty for a while now. And since traders hate uncertainty all we've seen of late is a wobbly market.

Maybe one positive; the VIX is flat today after moving higher earlier and currently back below 20. Additionally, we've got monthly options expiration today and market makers would be happy to see some gains into the market close.

Obviously we're still not out of the woods. Both the S&P and NASDAQ remain below all key technical levels. So step one for the bulls would be for that to change. Thus we should watch to see if the S&P can first close back above its 20 day moving average, currently at 5739. That's going to take a lot of work considering the S&P was close to 5600 at its low of the day.

A lot of very important stocks have been hit hard the past several weeks, those that helped lead the market to all time highs back in February. If traders decide these stocks have been discounted enough, we just might see a decent rally sometime soon.

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

At your service,

John Hopkins