EB Daily Market Report - Friday, June 6, 2025

Dear Members.

The bulls brushed off yesterday's dramas and cheered this morning's jobs report with the S&P climbing back above 6000 for the first time since February and with all of the major indexes higher as we near the end of another trading week.

Traders are showing increased confidence with the VIX at its lowest level since February and in spite of rising interest rates. And the shorts continue to be frustrated as every dip is met by strong buying.

One could argue that the market has gotten ahead of itself but when you think about it all that has happened is the market has recouped the losses going back to early April. Still, very impressive considering some of the clouds hanging over the market the past few months.

It will be worth watching to see if the market can hold most or all of its gains into the close. If so then the bulls will carry the momentum into next week. Today's high on the S&P was 6016 so that is now near term resistance. To the downside the S&P got as low as 5921 so as long as that holds the bulls should be in good shape.

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

At your service,

John Hopkins