EB Watch List Update Report

Dear Members: Market Update: The S&P hit a new milestone when it reached 3000 for the first time in history this morning followed by the requisite pullback whenever such a key level is hit. I say requisite since it's almost inevitable that sell programs will kick in at key levels of key resistance just like what we saw earlier today. But the good news for the bulls is 3000 is no longer a goal or a mystery; it's been achieved, so traders know it's possible. The other good news; all three major indexes have reached new all time highs with the market in sync. All of this comes just ahead of the start of earnings season, even though expectations seem to have been reduced. This could set up a situation where the market could move even higher - i.e., if overall expectations are exceeded. There's certainly no question of who is in charge here; the bulls have a firm grip on the market. That can always change but right now there's a strong appetite for stocks. Now that the S&P has touched 3000 there's no telling what might come next as it's never been this high before. 3050 seems like a nice round number for the bulls to aim for. But we could see some additional selling if traders decide to lock in well deserved profits though it could be short-lived. Companies reporting earnings today (July 10) Before Market Opens: MSM After Market Closes BBBY and PSMT Companies reporting earnings tomorrow (July 11) Before Market Opens: DAL and FAST 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 1.5% but still above all key technical levels. Some buying on the pullback would be welcomed and a close above $186.95 would be bullish. Medium Cap Watch List PRSP - Stock hit $24.35 earlier in the session, a level not seen since last November, and a close above that level would be bullish. GDI - Stock hit our second entry level of $33 yesterday and is lower by 1.3% today. Needs to close back above $33 or it will be removed from the Watch List. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats