EB Daily Market Report - Wednesday, September 3, 2025

Dear Members.

A quick update as Tom is unavailable for today's DMR.

The NASDAQ moved up sharply on the heels of positive news for both GOOGL and AAPL but now looks like most of the major indices moved up to fill the gap from Monday’s opening drop, now rolling over a bit. 

So far all of the major indices are holding right at their respective 20 day moving averages but not by much. In the case of the S&P the 20 day is at 6418 so not much wiggle room as a close below that level could potentially result in some selling.

Of course the "big" event traders are awaiting is Friday's jobs report which could have a meaningful impact on near term trading. So we might well see some consolidation into the report with bigger bets coming once the numbers are released. 

The bulls have been in charge of the action for many months but now have the added challenge of now being in the historically roughest trading month of the year. So any fresh clues - i.e., like Friday's jobs report - might play a more outsized role than usual.

Tom will be back with his Daily Market Report tomorrow.

At your service,

John Hopkins