EB Watch List Update Report

Dear Members: Market Update A similar pattern continues. First, tech stocks are stuck in a rut with the NASDAQ the weakest of the three major indexes. Next, the VIX continues to consolidate right in the middle of key technical levels keeping traders wondering what might happen next. Then we've got the Dow and S&P hovering above their respective 50 day moving averages. Yet the bears have not yet figured out a way to inflict much damage, certainly not enough to send traders en mass to the sidelines. But the type of consolidation we are seeing continues to make it difficult to commit in any meaningful way to new positions. In fact the S&P is now in a very narrow trading range of 2910 to the upside and 2874 to the downside which happens to be both the low earlier in the week and the 50 day moving average. In addition the NASDAQ needs to close back above its 50 day, currently at 7858, a level it has been unable to crack going back to early May. Bottom line at the moment: it's going to continue to be difficult for the overall market to make much progress as long as tech stocks lag. Nothing out there is screaming "buy" but the bears haven't yet found a way to take control. Companies reporting earnings today (June 14) Before Market Opens: None After Market Closes None Companies reporting earnings Monday (June 17) 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 - Much of the same with the stock needing to clear the May 15 high of $80.31 to make further progress to the upside. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats