EB Watch List Update Report

Dear Members: Market Update: When the market gets oversold bargain hunters come in. When the market gets overbought, like it has recently, traders like to lock in profits. The NASDAQ got very overbought thus the selling in tech stocks today while the Dow and S&P are getting some attention though both are also getting a bit pricey. Traders are taking the selling in the NASDAQ with a grain of salt; the VIX is up 5% but still well below all key technical levels. The S&P got close to 2780, a level not seen since early March. But make no mistake about it; this most recent rally has been centered on tech and small cap stocks, both which needed a rest. The bulls are hoping that traders pay some more attention to blue chips and other stocks in the S&P which might help sustain the rally. But it may be tricky for the market to make much more progress if the NASDAQ stalls. The new range on the S&P is now 2780 to the upside and 2726 to the downside. We should watch to see if buyers emerge later in the day or if the selling picks up and then go from there. Companies reporting earnings Today (June 7) Before Market Opens: SJM and MTN After Market Closes: AVGO and COO Companies reporting earnings tomorrow (June 8) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST We added PE to the Watch List yesterday with additional information below. Will keep you posted on any new alerts. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List PE - Stock was added to the Watch List at an entry price of $26.68, a price target of $29.80 and a stop of any INTRA DAY move below $26. Today it's higher by over 2% and a close above $28.32 would be very bullish. Small Cap Watch List CATM - Stock is down by 2.8%. Would like to see it at least close back above the 20 day moving average, currently at $27.14. PBH - Stock is fairly flat after getting off to a decent start. A close above today's high of $35.68 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats