EB Watch List Update Report

John Hopkins - July 17, 2019

Dear Members: Market Update: The market is struggling some today as it should be with stocks so stretched and moving higher practically day after day with all of the major indexes lower. Even with the selling all of the major indexes are above all key technical levels; profit taking here is actually quite healthy. This morning some very large market cap companies reported their earnings with very mixed results with traders rewarding those that exceeded expectations while punishing those that missed which is exactly the way it is supposed to work. After the bell we'll hear from NFLX and IBM, two tech giants that matter. Then the earnings floodgates will open as thousands of companies report over the next 3-4 weeks. Now that the S&P has moved back below 3000 the next key level of support will be at the 20 day moving average, currently at 2967. Personally I would be just fine with some more selling here; rather get stocks cheaper. To the upside 3017 is now resistance. We'll see as the day goes on if traders remain in buy on the dip mode. Companies reporting earnings today (July 17) Before Market Opens: ABT, ASML, BAC, BK, CMA, ERIC, OMC, PNC, PGR, TXT, USB and WIT After Market Closes AA, CCI, CCK, EBAY, IBM, KMI, NFLX, SLG and URI Companies reporting earnings tomorrow (July 18) Before Market Opens: ADS, ALLY, BBT, DHR, DOV, EWBC, GPC, HON, MTB, MS, NVS, NUE, PM, POOL, PPG, SAP, SBNY, SNA, SON, STI, TSM, BX, UNP, UNH, WSO and WBS After Market Closes: COF, CHWY, ETFC, ISRG, MSFT, TIGO, PBCT, SKX and WAL ADDITIONS TO WATCH LIST We will keep you posted on any new additions to the Watch List. The market continues to be stretched here so we need to be selective - i.e., wouldn't mind getting stocks cheaper. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Medium Cap Watch List PRSP - Stock is slightly lower as it continues to consolidate and a close back above $24.35 would be bullish. Small Cap Watch List None Deletions from Watch List At your service, John Hopkins EarningsBeats