EB Watch List Update Report

Dear Members: Market Update: If the bears thought the bulls would be lying down after the S&P hit its all time high last week they might be disappointed this morning with all of the major indexes up slightly as we begin a new trading day and week. It is true that the S&P got technically overbought last week and it's still stretched today. But the excitement that goes with a fresh all time high remains with traders showing lots of interest in owning stocks. We're still seeing tech stocks lag with the NASDAQ unable to get near its all time high last week. This in turn could hold the overall market back from advancing a lot higher. So it seems we'll need to see some leadership in the tech sector for the rally to continue in any meaningful way. We're moving into the tail end of June and now just over three weeks from the beginning of earnings season. Of course that will be the big test; traders care about earnings results and forward guidance more than anything else. The S&P got as high as 2964 last week so that is a level the bulls will need to clear to take stocks higher. Should we see any selling 2931 looks like the first level of price support. Companies reporting earnings today (June 24) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (June 25) Before Market Opens: FDS and LEN After Market Closes: FDX, MU and SNX ADDITIONS TO WATCH LIST PLEASE NOTE: We will be updating the Strong Earnings ChartList today. We will be sharing the list with those of you who are StockCharts.com Extra level members or higher and will provide a link to all others. Will keep you posted. 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 down slightly but now consolidating at a higher level. A close above $81.56 would be bullish. Medium Cap Watch List PRSP - Stock is down slightly and a close above $$24.12 would be very bullish. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats