EB Watch List Update Report

Dear Members: First, mark your calendars for next Monday, July 8, when Tom Bowley will join me for our "2019 2nd Half Market Outlook" which is exclusively for EarningsBeats.com members. There is no need for you to register for this event; you will be sent room instructions prior to the 4:30 pm eastern start. In addition the webinar will be recorded for those of you unable to attend the live event. Market Update: The market went into sulk mode after the non-farm payroll report showed a better than expected jobs report with all of the major indexes lower. One might ask, why the doom and gloom on a better than expected number? Because traders feel like the strong showing will put at risk the Fed lowering rates, at least in any aggressive manner. But is the market reaction justified? It doesn't matter; stocks are lower which to be honest is healthy after the nice run higher and could help to set up some nice buying opportunities. The VIX is higher by almost 13% today but it's still below all key technical levels. In other words, no panic in this selling. Once traders fully absorb today's jobs report attention will turn to the upcoming earnings season which will kick into high gear the week after next. Expectations are mixed so traders need to see some actual numbers to draw conclusions. In the meantime we'll see if traders look at today's selling as an opportunity to buy stocks cheaper. Companies reporting earnings today (July 5) Before Market Opens: None After Market Closes None Companies reporting earnings Monday (July 8) Before Market Opens: None 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 lower by 1.45%. There should be good support just above $179 and a move and close above $183.83 would be bullish. ROKU - Stock is higher by 3.6% as it moves back above all key technical levels. Holding the early gains into the close would be bullish. Medium Cap Watch List PRSP - Stock is down slightly and a close back above the recent high of $24.12 would be bullish. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats