EB Watch List Update Report

Dear Members: First, we will be conducting a webinar this afternoon at 4:30 pm eastern: "What to Look for in Market Bottoms." This event will feature StockCharts.com Senior Technical Analyst Tom Bowley and is open to all EarningsBeats subscribers at no cost. THERE IS NO NEED FOR YOU TO REGISTER and room instructions will be sent to you prior to the start of the event. Also the webinar will be recorded for those of you unable to attend the live event. Market Update The market is off to a mixed start as we begin a new trading day and week. The action this morning is what one might expect with all of the major indexes technically challenged; very difficult to make any progress to the upside with the bears having the upper hand, just the opposite of what we saw for five months from the late December bottom until a few weeks back. And though the bulls have failed to regain the momentum on the recent selling right now none of the major indexes are technically oversold though the NASDAQ is coming close. Traders keep looking for reasons to be long but so far are coming up blank; i.e., no compelling reasons to put new capital to work. Also worth pointing out; the VIX is higher by almost 5% and earlier in the session was back above all key technical levels showing traders are likely to err on the side of caution. Yet everyone seems to know that one "out of the blue" announcement could change the overall market mood. Accordingly, having some limited exposure might not be a bad idea. The trading range on the S&P is currently 2800 to the downside and 2874 (50 day moving average) to the upside. Remaining selective for now continues to make a lot of sense. Companies reporting earnings today (May 28) Before Market Opens: BNS and BAH After Market Closes WDAY Companies reporting earnings tomorrow (May 29) Before Market Opens: ANF, BMO AND DKS After Market Closes: PANW, PVH, SMTC AND VEEV ADDITIONS TO WATCH LIST We 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 PVH - Stock is DOWN slightly. A close back above $109.57 would be bullish. We'll keep our stop of any CLOSE below $106. Also, as a reminder, the stock will report earnings after the bell tomorrow so at some point it will be removed from the Watch List before the market closes on Wednesday. Will keep you posted. Mid Cap Watch List None Small Cap Watch List MTOR - Stock is higher by 1.4%. A close above $20.88 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats