EB Watch List Update Report

Dear Members: Market Update: It's Fed interest rate day! And so far the S&P and NASDAQ are fairly flat with the Dow up slightly as traders await the decision due out at 2:00 pm eastern. From a purely technical perspective the market currently favors the bulls. Will that change after the announcement? We're going to find out soon enough. One thing I have noticed is the 20 day moving average on the S&P is turning back up and nearing the 50 day and a cross back above would be bullish. The VIX is still hanging out above 15 as traders are showing they are prepared to bail if necessary. And with the S&P closing in on its all time high you know there's likely to be a big battle if it nears the 2950 level. We need to treat the Fed rate decision with respect; their words are going to be important. The S&P got as high as 2930 yesterday so that is now resistance. To the downside the 50 day moving average, currently at 2875, is now the first key level of technical support. Companies reporting earnings today (June 19 Before Market Opens: None After Market Closes ORCL and SCS Companies reporting earnings tomorrow (June 20) Before Market Opens: DRI and KR After Market Closes: CGC, KFY and RHT 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 is higher as it continues in the right direction. A close above $80.76 would be bullish. Medium Cap Watch List PRSP - Stock is flat 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