EB Watch List Update Report

Dear Members: Market Update: There's a combo going on today of the S&P and Dow back below their respective 20 day moving averages as the VIX rises by close to 20%. That combo has traders moving to the sidelines as we enter a holiday shortened week. Blue chips in particular are taking the brunt of the pounding today, down over 1%, while the NASDAQ remains above all key technical levels and is down by just .3%. The selling in equities is happening even with bond yields down sharply the past week with the ten year treasury note now at 2.84% compared to 3.11% at its recent high. So instead of traders buying equities on falling yields they're flocking to bonds for safety. As usual we need to keep things in perspective here. The S&P is still holding near its 20 day, now at 2705. But traders know a close below that level could lead to more selling with the next key level of support now at the 50 day, currently at 2672. Bottom line at the moment is cash continues to be king and would still like to see stocks cheaper to increase reward to risk opportunities. Companies reporting earnings Today (May 29) Before Market Opens: BNS and BAH After Market Closes: HPQ and CRM Companies reporting earnings tomorrow (May 30) Before Market Opens: ADI, BMO, CHS, DKS, DSW and KORS After Market Closes: BOX, GES and PVH ADDITIONS TO WATCH LIST PLEASE NOTE: We are updating the Candidate Tracker and will be adding almost 100 stocks while deleting some that need to come off the list. The Chart List should be available later today or tomorrow morning and we will keep you posted. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats