EB Watch List Update Report

Dear Members: Market Update: The bulls should be plenty pleased with the past few sessions with the Dow hitting yet another all time high, the S&P back over 3000 and the NASDAQ holding up just fine as well. The VIX is showing confidence is building with more traders in the camp that the Fed will indeed be lowering rates when they meet later in the month. Traders are also looking forward to earnings season getting off the ground in a big way next week with the bulls hoping to add on to recent gains. The bears will argue that the market has gotten ahead of itself but actually the Dow isn't much higher than its October 2018 peak. And its taken the NASDAQ almost 3 months to revisit its all time high. Even the S&P has not advanced that much since May 1. So the bulls see an opportunity to build on the current momentum. Perhaps we'll see some consolidation for a few days ahead of next week's earnings barrage. The S&P almost touched 3003 yesterday so that's the level the bulls are looking to clear. If we do see any selling 2963 should serve as the first level of support. Companies reporting earnings today (July 11) Before Market Opens: DAL and FAST After Market Closes None Companies reporting earnings tomorrow (July 12) Before Market Opens: INFY 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 fairly flat but still remains above all key technical levels. A close above $186.95 would be bullish. Medium Cap Watch List PRSP - Stock hit a near term high of $24.35 yesterday and has pulled back some. A close back above that level would be bullish. GDI - Stock managed to close above our stop of $33 yesterday but not by much. It continues to struggle today. Unless it closes back above $33 by day's end it will be removed from the Watch List. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats