EB Daily Market Report - Friday, July 10, 2026

Dear Members.

A fairly calm day, all things considered, with the major indexes mixed as we get ready to close out another trading week. A few things come to mind.

First, the $VIX trading in the mid 15's shows traders are taking world and economic developments in stride. Next, all of the major indexes are back above all key technical levels, showing a continued appetite in stocks.

The fact that the S&P is less than 1% from its all time high must be encouraging for the bulls. After all, tensions in the Middle East have increased, semiconductor stocks continue to struggle and there's no sign that interest rates are coming down anytime soon.

Of course we're now less than a week away from the kickoff of earnings season with five of the world's largest banks getting ready to report their numbers next Tuesday. That will be followed by many weeks of reports that will help determine the direction of the market.

For now the advantage goes to the bulls who are aiming to eclipse the all time high of 7620. There should be decent support around 7475 where there's both price and technical support. 

Not much more to say than have a restful weekend.

At your service,

John Hopkins