EB Watch List Update Report

Dear Members: Market Update: The bulls have done everything necessary lately to put themselves in position to challenge the all time high on the S&P and it's paid off with a new high of 2977 achieved this morning as we begin a new trading day, week and month. Neither the Dow or the NASDAQ has reached its all time high but both are a step closer today with traders relieved after talks between the US and China seemed to show some progress. Some good news for the bulls is none of the major indexes are overbought here so there's plenty of room for the market to move higher if traders remain in a buying mood. The record high on the S&P comes as we get closer to the start of earnings season which will get underway in about two weeks. Now that the S&P hast hit an all time high what might be next? First, if it can move back above today's high of 2977 then 2800 would like be the next target for the bulls. It sometimes takes an extra effort to move the market higher when an all time high is reached but right now the bulls have total control of the action. Companies reporting earnings today (July 1) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (July 2) Before Market Opens: AYI and SMPL 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 - We issued a profit alert on the stock this morning when it reached $83.19. It's getting overbought and thus the profit alert. There is overhead resistance at $83.66. If it can clear that level it could go higher. LULU - Stock is higher but fizzled some after making a nice move earlier in the session. It got as high as $183.83 this morning so would like to see it get back above that level. Medium Cap Watch List PRSP - Stock is up slightly after holding at the 50 day moving average on Friday. As a reminder we changed our stop to any close below $22.50.If the stock closes below that level it will be removed from the Watch List. In the meantime it needs to get back over the recent high of $24.12 to make further progress. Small Cap Watch List None Deletions from Watch List OMC At your service, John Hopkins EarningsBeats