EB Daily Market Report - Friday, July 3, 2025

Dear Members.

With the fourth of July holiday tomorrow, today the market closes at 1:00 EST and will be closed tomorrow all day. So, a very brief update.

We've got new all time highs on the S&P and NASDAQ. In fact, the S&P is closing in on the next round number of 6300.

It doesn't seem to matter at the moment, but technically, the market is overbought here. Of course it could remain overbought for an extended period of time. But when you start seeing RSI's in the mid 70's on the major indexes it could prompt some profit taking. But given the mood today, it's also quite possible that any dips will be short-lived.

Should we see any selling, there should be price support near 6200 with technical support - the 20 day on the S&P - just below 6100. 

I want to wish everyone a restful holiday and Tom will be back with his Weekly Market Report on Monday.

At your service,

John Hopkins