EB Watch List Update Report

Dear Members: Market Update: The 2740 level on the S&P has proven to be challenging to the bulls. It got as high as 2742 earlier in the session before selling kicked in with the bears knowing if that level is cleared stocks could move even higher. Of course the bulls are hoping that the more times they try to clear that level the better the chance it will finally happen. While this may be true it's put somewhat of a damper on trading on both the long and short side; potential limited upside for the longs and frustration for the shorts while the consolation continues. The same thing can be said about the Dow as it hovers near the psychological level of 25,000; it's not breaking out but it's not breaking down. In the meantime the VIX continues to hover around 13, still historically low but poised to move higher on a dime should something negative hit the market out of nowhere. Bottom line is at this exact moment the bulls get a slight edge which could be enhanced if the S&P closed above 2742. Short of that it's going to be tricky to make big scores on either the long or short side. Companies reporting earnings Today (May 22) Before Market Opens: AAP, AZO, CCO, CBRL, EV, IGT, KSS, PLAB, RDCM, TJX and TOL After Market Closes: TCS, HPE, INTU, RRGB and URBN Companies reporting earnings tomorrow (May 23) Before Market Opens: LOW, RL, TGT and TIF After Market Closes: LB, NTAP, SMRT, SNPS, UVV and WSM ADDITIONS TO WATCH LIST Will keep you posted if there are any new alerts BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List FTR - Stock is higher but off the highs of the session and a close above $9.70 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats