EB Watch List Update Report

Dear Members: Market Update: The NASDAQ was overdue for some selling, with the options chart giving us some clues the past few days, and we're seeing a pullback today with the Dow and S&P continuing to show more vulnerability. Traders have shown nothing but love for tech stocks - the NASDAQ is higher by almost 11% in about six weeks - while turning away from blue chip stocks and keeping the S&P from gaining any ground. To me the NASDAQ has simply moved up too much too quickly and we're going to need more than a few points to get anyone on the sidelines to get aggressive on the long side. But as usual it still remains risky to get too aggressive on the short side. Sooner or later the major indexes need to get in sync meaning more strength in the Dow and S&P or some weakness in the NASDAQ. Otherwise the market will remain highly bifurcated which could in turn move more traders to the sidelines. Companies reporting earnings Today (June 15) Before Market Opens: None After Market Closes: None Companies reporting earnings Monday (June 18) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any new alerts. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: JACK - Stock is trading close to the initial entry level. Would like to see it close back below $85 which could help take it lower. 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