EB Daily Market Report - Friday, July 18, 2025

Dear Members.

NFLX reported earnings after the bell last night with the stock down almost 5% in spite of solid numbers. Yet the NASDAQ continue to power higher, setting another record high which to me at this point, is a concern, especially with its RSi in the mid 70's, an historically weak market period and monthly options expiring today.

The S&P also hit a new all time high today with a RSI near 70, also a lofty level. 

I'm also seeing a number of stocks trade higher day after day, even some with negative earnings. All of this making me a bit nervous and thinking this might be a decent time to consider laying low or even taking some profits off the table. Of course this is an individual decision and the market could continue to move higher. Just feel like it's a time to at least consider the market might be due for some type of pullback.

The new high on the S&P is 6315 which is now the new level of resistance. To the downside the 20 day moving average is at 6201. So let's use those numbers for now and see how the day develops.

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

At your service,

John Hopkins