S&P 500 Daily Update for Monday March 10, 2025

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Summary of the market update for Friday, March 7th, 2025:
The S&P 500 experienced a bounce on Friday, closing up 0.55% on above-average volume, possibly due to a technical rebound from short-term extreme negative indicators. Despite a lower open following a mixed reaction to the employment report, the index climbed back above the unchanged level and the daily pivot at 5754, briefly dipping below S1 at 5696 and the 5700 level. It found support near the 200-day simple moving average and other converging support levels, maintaining a positive long-term trend. Late-day buying suggested Smart Money involvement.
However, the market remains negative in the short and intermediate term, with some damage evident. Other indexes such as the NASDAQ and NASDAQ 100 are still below their 200-day moving averages. Interest rates rose to 4.32% on the 10-year yield, and Fed Chair Jerome Powell expressed no rush to adjust rates, citing productivity improvements. The employment report showed non-farm payrolls at 151,000 (below expectations but up from a revised 125,000), with unemployment ticking up to 4.1%.
Market sentiment is pessimistic, with the VIX above 20 and various indicators (e.g., TTM squeeze, Stochastics) showing extreme negative readings. The dollar weakened, and there’s confusion over executive orders and geopolitical factors. Earnings expectations are being lowered, contributing to a lethargic market since December’s all-time high. Support at the 200-day moving average and other levels held, but momentum remains negative across short, intermediate, and long-term timeframes, with defensive sectors such as staples outperforming.
Looking to Monday, March 10th, no major economic reports are due, but geopolitical risks persist. The outlook remains negative short- and intermediate-term, with long-term positivity hinging on support levels holding. Key upcoming data includes CPI on Wednesday, PPI on Thursday, and Consumer Sentiment on Friday.
PDF of Charts and Slides used in today's video:
https://drive.google.com/file/d/1bMsCoOmdiaeLlVXlM2rzfqVkQOOtOlK5/view?usp=sharing
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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!