Dear Members: Market Update: What stands out today is the resiliency of the NASDAQ as it hits another all time high right in the face of an announcement that the Justice Department is investigating some FANG stocks including Facebook who is scheduled to report its earnings after the bell tonight. On the flip side the Dow is red today after disappointing earnings reports from Boeing and Caterpillar and thus the mixed picture with the S&P trading flat. In addition to FB reporting tonight we're going to hear from Alphabet and Amazon tomorrow after the bell. Then we'll hear from Apple early next week. So with the NASDAQ touching an all time high and the S&P back over 3000 the market reaction to these large market cap companies is important. Though the NASDAQ has taken the lead here the S&P still needs to clear its all time high of 3017 for the broader market to advance higher with some thinking that we may have hit a near term top. But there's still no indication that traders are running to the sidelines and the bears have done nothing to back up claims that a top is in. We still need to be selective here. Companies that are beating expectations and gapping up on strong volume are the stocks that we'll want to get involved in once they pull back to more reasonable levels; it still makes no sense to chase them. And buying stocks ahead of earnings reports still brings with it risks - i.e., NFLX, BA and CAT, just to name a few. Let's see what develops as the day progresses and once FB reports after the bell then revisit come the morning. Companies reporting earnings today (July 24) Before Market Opens: ALXN, APH, ANTM, T, BA, BOKF, BSX, BCO, CAJ, CAT, CHKP, DTE, EEFT, EVR, FCFS, FSV, FLIR, FCX, GD, HLT, IART, IQV, KNX, LN, MKTX, MLCO, NDAQ, NEE, NSC, NTRS, NOC, OC, BPOP, PB, ROL, SC, SLAB, SIX, TEL, TDY, TMO, UPS, VFC, GWW and WIX After Market Closes AGNC, AEM, ALGN, AMP, CERN, CTXS, CBD, CLGX, COR, CUZ, DB, EGP, ESRT, ESS, FFIV, FB, FR, F, GSX, GGG, HP, ICLR, NGVT, KRC, LSTR, LVS, MLCO, MLNX, MSA, ORLY, PKG, PYPL, PTC, RJF, SEIC, NOW, SLM, SAVE, STL, SUI, SU, FTI, TSLA, TMK, VAR and XLNX Companies reporting earnings tomorrow (July 25) Before Market Opens: MMM, AAN, APD, ALKS, ALLE, REV, AAL, AEP, BUD, ARD, AZN, AXTA, BAX, BWA, BMY, BC, CCJ, CRI, CVE, CMS, KOF, CMCSA, CFR, ENTG, EQT, EQNR, FAF, FDC, FCN, HSY, HBAN, IP, IVZ, KIM, KEX, KKR, LH, LAZ, TREE, LKQ, MAS, NEM, NOK, NVCR, OAK, ODFL, ORI, ORAN, RTN, RS, ROK, ROP, RCL, LUV, STM, TAL, TECK, VIV, TEF, TPX, TOT, TSCO, VLO, VLY, VMC, GRA, WM, WST, WWE and WH After Market Closes: AFL, ALK, GOOGL, GOOG, AMZN, AJG, TEAM, BSMX, SAM, BVN, CPT, CHE, COLM, CUBE, CY, DECK, EMN, EIX, E, ERIE, EXPE, FISV, FLEX, FMX, FTV, FCN, IEX, INTC, JNPR, LYV, LOGM, LPLA, MAT, MGM, MHK, PEB, PFG, PFPT, RSG, RMD, SBUX, SYK, SIVB, TGE, TNET, UHS and VRSN ADDITIONS TO WATCH LIST We continue to be selective on any new trade alerts while waiting for more companies to report. We will keep you posted on any new additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Medium Cap Watch List PRSP - Stock is higher by over 1% as it tries to clear its 20 day moving average at $23.52. A close above that level would be positive. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats