EB Daily Market Report - Friday, October 31, 2025

Dear Members.

It's Halloween but traders don't seem all that spooked with the Dow and S&P down slightly while the NASDAQ remains in positive territory, though well off its session high.

While the bulls must be pleased that all of the major indexes remain close to all time highs we're now at a point where traders will be asking, "what's next?" After all, the Fed meeting and interest rate decision is over, the meetings between the two biggest world leaders have concluded and six of the seven Mag Seven stocks have reported their earnings. In other words, everything traders were wondering about coming into this jam packed meeting have now been answered.

Luckily for the bulls we're entering a time of the year when the market is mostly positive. And since overall earnings have been strong the chances of a major pullback, barring something unforeseen, is highly unlikely. Instead, we might see some consolidation as traders search for the next catalyst to help them with their market related decisions.

We saw the S&P hit its all time high of 6920 earlier this week so that is now resistance. To the downside the 20 day moving average, currently at 6753, is the first key technical support.

Not much more to add as we get ready to close out another trading week with the bulls still in charge as we get ready to move into the month of November.

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

At your service,

John Hopkins