EB Daily Market Report - Tuesday, July 15, 2025

Dear Members.

A quick update today as Tom had a dental emergency. His plan is to conduct the Max Pain webinar for members tonight and if for any reason that changes we will let you know.

This morning some of the largest banks in the world reported earnings with some mixed results. In addition, CPI came out slightly hotter than expected. Together one might think this would upset the market but NVDA's announcement last night that they would be doing some more business with China has tech stocks at yet another record high.

The record high in the NASDAQ comes ahead of a few key earnings reports in the next few days including TSM and NFLX. And it comes just a few days ahead of monthly options expiration which currently shows an imbalance of calls to puts. In other words, a lot more bets on the long side with the NASDAQ technically overbought.

But traders continue to see all news these days as good enough to keep the rally going, especially on the tech side. And even thought the S&P is down slightly it too made another record high earlier in the session.

The new high on the S&P is 6302, now resistance that will need to be cleared if the bulls look to take the market higher. To the downside, the first key level of technical support will be 6171, the 20 day moving average. 

We'll let you know if there's any change to tonight's event and Tom will be back tomorrow with his Daily Market Report.

At your service,

John Hopkins