EB Watch List Update Report

Dear Members: First, we had a GREAT webinar yesterday as Tom Bowley made his case for a much higher market in the future and went over strong/weak industries in the current market environment. Will make sure everyone receives a copy of the recording today. Market Update: A mixed market today with only the NASDAQ in positive territory today but all of the major indexes off session lows. So what's going on? Traders are sending a message to Fed Chairman Powell who is set to testify before Congress tomorrow. The message? Don't go hawkish on us. Whether or not he listens is another thing but for sure traders are now in wait and see mode, not wanting to over commit on stocks until they hear what he has to say. Of course what's most important is all of the major indexes remain technically sound with the S&P one strong day away from getting back to its all time high. So it's not like traders are unloading everything here. You can also rest assured that once Powell's testimony is out of the way traders will immediately set their sights on earnings with the flood gates set to open next week and as thousands of companies get set to report their numbers over the next several weeks. So we're likely to drift here into tomorrow's session with 2995 remaining as resistance and 2950 support on the S&P with the bulls still in control until further notice. Companies reporting earnings today (July 9) Before Market Opens: PEP After Market Closes HELE, LEVI and WDFC Companies reporting earnings tomorrow (July 10) Before Market Opens: MSM After Market Closes: BBBY and PSMT 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 down slightly but well off session lows. A close above yesterday's high of $186.95 would be bullish. Medium Cap Watch List PRSP - Stock continues to consolidate. A close above $24.13 would be bullish. GDI - Stock is lower by 2.5% as it gets closer to our second entry level of $33. However, if the stock CLOSES below $33 it will be removed from the Watch List. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats