EB Watch List Update Report

Dear Members: Market Update: The bulls woke up to a rude start to a new trading day, week and month as all of the major indexes opened sharply lower. Since then the market has been trying to recover with the NASDAQ going green for a moment before moving back into negative territory. The VIX is off its high but still up by over 6% and still well above all key technical levels as traders enter the new month with some reservations. The month of July brings with it the beginning of Q2 earnings season with thousands of companies set to report earnings over the next month or so. Expectations remain high but tempered some by some lingering issues including tariffs and rising interest rates. The pecking order that was evident during June continues into July with the NASDAQ still the index of choice with the Dow at the bottom of the pack and the S&P continuing to struggle to gain any traction, pretty much at the level it was right when the year began. Of course when everything is said and done we know what matters the most; the bottom line. So in a few weeks companies will be revealing their numbers and we'll see if they're strong enough to turn the tide or if the market needs to be discounted even further. For sure we're seeing that traders have gone from giving the bulls the benefit of the doubt to becoming more skeptical with the S&P falling back when it touched its 20 day moving average on Friday and moving back below its 50 day today. The S&P got as low as 2691 last week so that is now support. To the upside we'll want to see if the S&P first closes above 2718 at a minimum with 2736, the 20 day, coming next. Companies reporting earnings Today (July 2) Before Market Opens: None After Market Closes: MLHR Companies reporting earnings tomorrow (July 3) Before Market Opens: AYI After Market Closes: None ADDITIONS TO WATCH LIST Please note that we will be updating the Candidate Tracker later in the week and will keep you posted. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock is higher by .6% as it continues to challenge its 20 day moving average from below. A close above that level, currently at $74.01 would be very bullish. Mid Cap Watch List GDOT - Stock is higher by 1% with the next key level of resistance remaining at its 20 day moving average, currently at $74.63. A close above that level would be very bullish. Small Cap Watch List PLAB - Stock is down slightly and a close above $8.10 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats