EB Daily Market Report - Friday, June 20, 2025

Dear Members.

We're getting ready to close out another week with the S&P and NASDAQ in the red and the Dow in the green as triple witch options expiration Friday nears an end.

As far as options go, both the QQQ and SPY tested their respective 20 day moving averages before bouncing some. Often the impact from monthly options expiration leaks into the beginning of next week so we'll see if there's further selling come Monday.

The VIX is fairly flat today but still just above 20; not showing any panic but perhaps a bit of nervousness as things change very quickly these days.

If the S&P continues to hold its 20 day - currently at 5948 - the bulls will maintain the upper hand. Should that go the next key technical test would be the 200 day moving average, currently at 5814.

That's it for the week and Tom will be back with his weekly report on Monday.

At your service,

John Hopkins