EB Watch List Update Report

Dear Members: Market Update A few things to point out with all of the major indexes higher so far today. First, tech stocks continue to lag here which is putting pressure on the overall market with the NASDAQ now back below its 20 day moving average after shedding over 100 points from the top of the recent rally. Next, so far both the Dow and S&P have held all of their respective moving averages so blue chips and the broader market are in slightly better shape than the NASDAQ. Next, the VIX is flat again; not moving much in either direction as traders wonder what the next move might be after the consolidation of the past few sessions. The bulls will argue that all things considered the market is holding up just fine. After all the S&P got within striking range of its all time high earlier in the week. But the bears will argue that this bifurcated market - with tech stocks lagging - will keep the overall market from advancing much further. Both are good points. So right now its a bit of a stalemate though the bears don't have quite as much standing as the bulls. If they did we probably would have seen more selling the past few sessions. Instead most mornings the futures are green which gives the bulls the edge. Right now we should pay attention to the S&P. It held its 50 day yesterday but a close below that level, currently at 2873, could break the stalemate. To the upside it got as high as 2910 from Tuesday and a close above that level could possibly generate some additional buying interest. Companies reporting earnings today (June 13) Before Market Opens: None After Market Closes BRCM Companies reporting earnings tomorrow (June 14) Before Market Opens: None After Market Closes: None 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 OMC - Stock continues to consolidate and a close above $80.08 would be bullish. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats