EB Watch List Update Report

Dear Members: First, as a reminder, we have a new feature on the site now, our "EB Digest" which comes out M, W and FR. The EB Digest will will feature articles highlighting earnings and relative strength. You can access the EB Digest under the Members section of the site: https://www.earningsbeats.com/members/EB-Digest.cfm Market Update Traders seem quite pleased with the news that talks with China could be progressing with all of the major indexes substantially higher. The brick wall near 2900 has been cleared, at least on an Intra Day basis, and the NASDAQ has joined the Dow and S&P in clearing all key technical levels with tech stocks leading today's move higher. In fact the NASDAQ is challenging the 8000 level for the first time in over a month when it hit 8004 on May 8. The strong showing today comes a day ahead of the Fed rate announcement where the bulls are hoping for dovish language that could keep the market moving even higher with the all time high on the S&P of 2954 now within easy striking range. We're also seeing the VIX back below all key technical levels for the first time since early May as trader confidence builds. Short of a major reversal to the downside into the close the bulls need to be respected here. At the same time whenever a major indexe approaches an all time high there are plenty of sell programs in place, nothing we'll likely have to consider today, but that could come into play another 25-30 points should the bulls continue to take the S&P higher. Companies reporting earnings today (June 18) Before Market Opens: PSN After Market Closes ADBE, CHKE and JBL Companies reporting earnings tomorrow (June 19) Before Market Opens: None After Market Closes: ORCL and SCS ADDITIONS TO WATCH LIST We added PRSP to the Watch List yesterday with additional details below. 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 is higher by over 1% as it hits a high last seen April 29. A close above $80.76 would be bullish. Medium Cap Watch List PRSP - Stock was added to the Watch List yesterday at an initial entry price of $22.93 with a second entry on any pullback to $22 with a price target of $26 and a stop of any CLOSE below $21.50 Today it is higher by 1.6% and a close above the June 7 high of $23.69 would be very bullish. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats