Dear Members: Market Update: In yesterday's update I pointed to bond yields needing some relief which in turn could be bullish for stocks and we are seeing today a bounce in rates and stocks alike. At the same time the VIX is down another 9%, back in the 17's compared to almost 25 at its recent peak as traders show more willingness to put some capital into stocks. But one thing hasn't changed, at least not yet, and that is all of the major indexes remain below their respective 20 and 50 day moving averages. And today could be a test to see if early gains hold or do we get right back to selling on the rally. I should point out on the VIX that even though it has pulled back significantly it remains above all key technical levels; it's not like the market has given an all clear sign here. But if you're a bull you've got to start somewhere and so far today stocks are higher than they were yesterday. So a key right now is to see if the S&P can move back above its 50 day, currently at 2933 where it could run into strong resistance. To the downside the S&P got as low as 2822 earlier in the week so that is now support. Companies reporting earnings today (August 8) Before Market Opens: AZUL, CAH, LNG, CRON, SATS, EPAM, KDP, LSXMK, LSXMA, FWONK, FWONA, LITE, MGA, MMS, MUR, NICE, NOMD, NCLH, OGE, PRGO, PNW, TRGP, KHC, TW, VIAB and VIRT, After Market Closes ALB, DOX, UHAL, AIG, ANGI, AZPN, ATO, AVLR, BKNG, CABO, CVNA, CTL, CPA, ET, EVRG, FLO, FOXA, FOX, FNV, FTDR, GLP, G, HHC, IAC, ICUI, LHCG, LBTYA, LYFT, MFC, MRO, MELI, MNST, NTES, NUAN, PEGA, PRI, QTREA, RYN, ROKU, RGLD, SBRA, SRPT, SWKS, TRIP, WMGI and ZG Companies reporting earnings tomorrow (August 9) Before Market Opens: HPT and TRCO After Market Closes: None ADDITIONS TO WATCH LIST 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 MU - We removed this stock from the Watch List after extreme volatility to the downside yesterday. Medium Cap Watch List None Small Cap Watch List None Deletions from Watch List MU At your service, John Hopkins EarningsBeats.com