EB Watch List Update Report

Dear Members: Market Update: If the bears were hoping the red futures this morning were going to be an opportunity for them to make some noise they were mistaken with all of the major indexes slightly higher. Going back to last December's lows, the bulls have weathered everything thrown at them, from tariffs, forecasts of poor earnings, weak jobs reports and back and forth negotiations with different countries, all of it resulting in the recent all time high in the S&P with the bulls asking, what else you got? None of the major indexes are overbought; there's room to move higher. And even though the S&P has been the only index to reach an all time high the Dow is one decent day away from hitting its all time high while the NASDAQ got close yesterday which is not insignificant given its been lagging the Dow and S&P. Though stocks have held up well its likely to be tricky to advance much higher before we start seeing some earnings results. In fact we could see some consolidation in the near term until the first burst of earnings comes out the week after next. But we do have the jobs report coming out on Friday, one of the reports that is capable of moving the market and even determining near term direction, depending on results and market reaction. So we could see some fireworks the day after the 4th of July that could result in a significant move. In the meantime the bulls must be respected. Companies reporting earnings today (July 2) Before Market Opens: NAYI and SMPL After Market Closes None Companies reporting earnings tomorrow (July 3) Before Market Opens: ISCA 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 LULU - Stock is higher and like the market is in consolidation mode. A move and close above yesterday's high of $183.83 would be bullish. Medium Cap Watch List PRSP - Stock is slightly lower as it hovers near its 20 day moving average. Stil needs to get back over the recent high of $24.12 to make further progress. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats