EB Daily Market Report - Friday, January 23, 2026

Dear Members:

First, join Tom Bowley in a webinar tomorrow morning at 10:00 am eastern, "The January Effect", as he discusses his thoughts on where the market could be headed based on where the month ends. No need to register and you will receive room instructions prior to the start of the event. The webinar will also be recorded for those of you unable to attend the live event.

A mixed market today with blue chips in the red with the S&P and NASDAQ moving higher.

In some ways its surprising that the NASDAQ is higher today on the heels of Intel's weak earnings after the bell last night. In fact, the stock is down 16% but traders seem to be brushing it off as we get ready to enter the heart of earnings season starting next week.

The VIX is fairly flat, well off Tuesday's high near 21 when fear had heightened. But even though it's lower it remains well above the recent low of 13.38. 

Though the S&P is higher today it remains in a trading range of 6986 to the upside and 6720 to the downside. The S&P did test its 50 day moving average, currently at 6838, twice this week so that is also a level to keep an eye on in the near term.

We're going to get some fresh, major clues next week as the biggest of the big report their numbers starting with MSFT and META on Wednesday and then AAPL on Thursday. Toss in a ton of other very visible stocks reporting throughout the week and it's going to be anything but dull.

That's it for this week and Tom will be back Monday with his Weekly Market Report.

At your service,

John Hopkins