EB Daily Market Report - Thursday, April 24, 2025

Dear Members.

A brief update as Tom is traveling.

The bulls are in charge today with all of the major indexes higher. In fact, the S&P got as high as 5485, exceeding the most recent high but still shy of the important level of 5500 which will need to be cleared if the bulls want to see prices even higher.

The VIX is down nicely but still elevated; we're not totally out of the woods. Bond yields are down as well, one less thing for traders to be concerned about today.

After the bell tonight Google will report its earnings. A strong report and positive market response could lead to more gains tomorrow. On the other hand a negative response to one of the Mag 7 stocks might put a halt to the advance.

Bottom line is bulls at least have some momentum going here and a cross above 5500 on the S&P could put the shorts in a box. And it's not hurting today that the S&P is back above its 20 day moving average for the first time in a month. 

At your service,

John Hopkins