Dear Members: Market Update: The market started out with a bang this morning but profits are being taken with all of the major indexes well off session highs. Microsoft got a nice reception after posting its earnings after the bell last night but is well off its high which could be one of the reasons we're seeing the market fade some. All of the major indexes continue to trade above all key technical levels which favors the bulls. But they've all had a tough time revisiting their recent all time highs as traders have gotten a bit more cautious. We've had some highly visible companies report their numbers this week with mixed results. But the flood gates will open next week as many more companies will report and as traders get an even better sense of overall results. That in turn will determine the near term direction of the market. In the meantime the range on the S&P is 3017 to the upside and 2971 to the downside; it's pretty much in the middle of that range right now. But that could easily change next week depending on market reaction to lots of earnings. Companies reporting earnings today (July 19) Before Market Opens: AXP, ALV, BLK, CFG, GNTX, IBKC, KSU, MAN, RF, SLB, STT AND SYF After Market Closes None Companies reporting earnings Monday (July 22) Before Market Opens: HAL, LII, and RPM After Market Closes: ACC, BRO, CDNS, CE, CR, ELS, HXL, LOGI, STLD, AMTD, WHR AND ZION 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 None Medium Cap Watch List PRSP - Stock is slightly lower as it continues to consolidate and a close back above $24.35 would be bullish. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats