EB Daily Market Report - Friday, March 6, 2026

Dear Members.

The market is throwing everything it can at traders including a war, a much weaker than expected jobs report, persistent inflation and tariff uncertainty, all resulting in red across the board.

Nervousness abounds with the VIX hitting its highest level since October of last year, though it is off its session high. Government bond yields are climbing as well, despite the weak jobs report which some are hoping will give the Fed ammunition to lower rates.

The bears have a lot going for them yet the bulls haven't rolled over yet with the S&P so far holding above yesterday's low of 6710 which is now short term price support. Should that go the next key level of support is 6659, the November 25 low.

Tech stocks remain especially vulnerable with the NASDAQ coming very close to touching its 200 day moving average of 22087 earlier in the week. The last time the NASDAQ was below its 200 day was May of last year so it is worth keeping an eye on.

It's an interesting time to be involved in the market. Traders are hesitant to be long into the weekend but on the other hand we've seen how quickly things can change on a dime so holding short carries risks as well. So perhaps it's a good time to be more conservative at the moment, especially for short term traders.

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

At your service,

John Hopkins