EB Watch List Update Report

John Hopkins - June 25, 2019

Dear Members: Market Update: The selling today can mostly be pinned on tech stocks which have been lagging for some time. Been tough for the NASDAQ to get in sync with the Dow and S&P; maybe traders are feeling a little risk adverse these days. Even wit the selling today, including the NASDAQ, all of the major indexes are above all key technical levels. In fact, the 20 day moving average on the NASDAQ is converging on the 50 day and a cross above would be bullish, just like it has been for both the Dow and the S&P. The VIX is now back above two of its key technical levels as traders continue to at least consider the possibility of more selling. By historical measures it's still on the low side, favoring the bulls, but it's poised to move higher on any signs that the market is weakening. I did mention last week that when a major index like the S&P challenges/exceeds an all time high it often takes more than one shot to lift it higher; there are a lot of sell programs in place at important resistance levels. The S&P did get to 2964 so that is now key resistance. To the downside, should the SP close below 2930 then 2911 would be next. Bottom line: some well deserved profit taking with the bulls still in charge in spite of today's selling. Will revisit end of the day and into the morning to see if much has changed. Companies reporting earnings today (June 25) Before Market Opens: FDS and LEN After Market Closes FDX, MU and SNX Companies reporting earnings tomorrow (June 26) Before Market Opens: BB, GIS, IHS, PAYX and UNF After Market Closes: FUL, MLHR, KBH and WOR 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 fairly flat. A close above $81.56 would be bullish. Medium Cap Watch List PRSP - Stock is bucking the trend today and is higher by over 1%. 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