EB Watch List Update Report

Dear Members: Market Update: There are many reasons the market is lower today from the NASDAQ being overbought, to imposition of additional tariffs, to a more stabilizing dollar to rising interest rates. Whatever the culprit(s) the market is under fire today, something the bears have been hoping for and for a long time. Even though the NASDAQ is getting much needed relief, it's the Dow that is leading the charge lower as traders continue to shy away from blue chip stocks. In fact, at one point the Dow fell back below its 50 day moving average before bouncing some while the NASDAQ still remains above all key technical levels and as tech stocks remain in vogue. The VIX is higher by about 13% as it tests its 50 day from below for the first time since late May and as traders start to wonder if more selling could be in store. Then there's the S&P which dipped below its 20 day, currently at 2753, only to move back above as traders started to nibble on the long side after several days of selling. We've certainly seen this picture many times since the S&P bottomed back on February 9; the bulls have held critical levels of support just when it looked like the market could be wounded further. So now we're going to see if that 2753 level holds or if the bears will be able to regain control. It remains a major hurdle to bet against the market when its back is up against the wall but there's also some risk here to get back in on the long side with the S&P trading right near key technical support. Companies reporting earnings Today (June 19) Before Market Opens: None After Market Closes: FDX, LZB and ORCL Companies reporting earnings tomorrow (June 20) Before Market Opens: WGO After Market Closes: MU and SCS ADDITIONS TO WATCH LIST Will keep you posted on any new trade alerts BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List PLAB - Stock has still not hit our entry price of $8 so is not yet active on the Watch List. Deletions from Watch List None At your service, John Hopkins EarningsBeats