EB Daily Market Report - Brief Update - Thursday, July 10, 2025

It's been another solid day on Wall Street. All of our major indices are higher, with relative strength once again in the small cap (IWM, +0.83%) area. The IWM is creeping closer and closer to its first key price resistance level at 229, while support remains at its rising 20-day EMA.

The biotech ETF (XBI, +0.66%) is tacking on additional gains after breaking out on Wednesday, so both of our leveraged ETFs, TNA (tracking IWM at 3 to 1 ratio) and LABU (tracking XBI at 3 to 1 ratio) are performing quite well. Regional banks (KRE, +0.93%) and transports ($TRAN, +2.73%) are both having strong days as well, particularly the transports.

Strength has been centered more around value stocks (IWD, +0.62%) than growth stocks (IWF, 0.11%), but many stocks are higher, as evidenced by 9 of the 11 sectors gaining ground on today's session. Consumer discretionary (XLY, +1.19%) is leading the way to the upside, although 3 defensive sectors - utilities (XLU, +0.89%), health care (XLV, +0.78%), and real estate (XLRE, +0.74%) - are performing very well also.

Technology (XLK, -0.22%) and communication services (XLC, -0.21%) are the primary laggards.

Autos ($DJUSAU, +4.00%) represent one of the strongest industry groups as Tesla (TSLA, +4.40%) rebounds nicely. TSLA still needs to negotiate both the 20-day EMA and 50-day SMA, both of which are now within roughly 2-3% of current price.

Bitcoin ($BTCUSD, +1.98%) is above 113,000 and setting a new all-time high as most cryptocurrencies are seeing considerable strength. Commodities are mixed with crude oil ($WTIC, -2.18%) falling back below $67 per barrel, while copper ($COPPER, +2.42%) hits $5.62 today, close to its high close from Tuesday after its massive surge that day.

Happy trading!

Tom