EB Watch List Update Report

Dear Members: Market Update: It's been over 5 months since the S&P has been as high as it is today with the Dow moving back above 25,000 and the NASDAQ reaching an all time high. It comes on the heels of earnings from 4 major banks with two of them higher and two of them lower but apparently good enough for traders to be in a buying mood. The VIX is lower again as confidence builds just as a slew of earnings reports are about to come out. None of the major indexes are at a level that I would consider to be technically overbought but another day or two of positive action might leave them stretched. But at the moment this does not seem to be concerning to the bulls. In looking at the S&P it got as high as 2809 on February 2 so that is now an important level of resistance which will need to be cleared if the bulls are hoping to take the market even higher. Back to earnings for a moment. Starting next week we're going to be hearing from some major companies that collectively will help determine the direction of the market. Clearly there's a lot of confidence that tech stocks will come through with strong numbers with less confidence that blue chip and non-tech stocks will beat expectations. But at the moment traders seem to be giving the bulls the benefit of the doubt. Companies reporting earnings Today (July 13) Before Market Opens: C, INFY, JPM, PNC and WFC After Market Closes: NONE Companies reporting earnings Monday (July 16) Before Market Opens: BAC and BLK After Market Closes: NFLX ADDITIONS TO WATCH LIST Will keep you posted on any new additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List EXPD - Stock is higher by almost 1% as it has moved back above its 20 day moving average, at least Intra Day. A close above that level, currently at $73.35, would be bullish. M - Stock is higher by 1.3% as it tried to clear its 20 day moving average earlier in the session. A close above that level, currently at $36.99, would be bullish. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats