EB Watch List Update Report

Dear Members: Market Update: Whenever the market butts up against major resistance there's going to be a battle. We're seeing that today with the bears putting up a fight as the bulls try to break through 2800 with some gusto. It's not an easy task since clearing 2808, the February 2 high, would give the bulls something to work with in their quest to take the market higher. We're also seeing heavy resistance at 25,000 on the Dow and also on the NASDAQ as it tries to make yet another all time high.The VIX is higher by 4% today but nothing alarming as trader confidence has grown recently as earnings season gets under way. Speaking of earnings there are some big names on tap to report this week starting with one of the FANG stocks - Netflix - scheduled to reveal its numbers after the bell tonight. This is a highly visible stock that is likely to get a lot of attention and the response to its numbers will be watched very closely. From my perspective we're at a level that deserves to be watched closely to see if the bulls can clear that 2808 level or if there needs to be some selling to attract buyers. If there is some selling I would watch for 2865 to 2870 for support. We well might find the S&P trades in a tight range until we start seeing earnings released by some of the big names starting with NFLX tonight. Companies reporting earnings Today (July 16) Before Market Opens: BAC and BLK After Market Closes: NFLX Companies reporting earnings tomorrow (July 17) Before Market Opens: CMA, GS, JNJ, MBWM, PGR, SCHW and UNH After Market Closes: ADTN, CSX, HWC, PNFP and UAL 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 lower by 1.4% as it continues to struggle at its 20/50 day moving averages. It did put in a higher high earlier in the session and a close above that level, $73.92, would be very bullish. M - Stock is higher by over 1% and a close above $37 would be bullish. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats