EB Watch List Update Report

Dear Members: Market Update: Sometimes the market gives no warning that stocks have quickly fallen out of favor but in my Friday Market Update I pointed to the recent spike in the VIX that could spell trouble and we are certainly seeing that today with all of the major indexes down substantially as we begin a new trading day and week. Once again treasury yields are falling with the 10 year Treasury Note now getting as low as 1.75% this morning with stocks currently out of vogue. And there's technical damage this morning with all of the major indexes now back below their respective 50 day moving averages for the first time since early June. In looking at the charts its safe to say that the market is now technically oversold. Will traders care as the day progresses? We're going to find out. There is support on the S&P just above 2850 and if that goes just above 2820. To the upside the bulls will need to get the S&P back above its 50 day, currently at 2928. That could be a tall order here given the VIX is higher by 22% as fear has taken over. We'll continue to be VERY picky here until we see what happens as the day progresses. Companies reporting earnings today (August 5) Before Market Opens: ATH, CNA, JEC, KMPR, LIN, L, ON, TSN, UNVR and WEC After Market Closes ANSS, CIB, BKH, BHF, BWXT, CZR, CBPO, XEC, CLR, DEI, PODD, IFF, KLAC, RAMP, MAR, OUT, O, STE, TTWO, UGI, WWD and WPX Companies reporting earnings Monday (August 6) Before Market Opens: ACM, AGN, ALNY, ARMK, AVTR, BHC, BDX, TECH, BKI, CHH, CWEN, DISCA, DUK, EMR, ENBL, EXPD, FIS, HAE, HSIC, JCOM, JLL, MGP, MOS, NJR, PPL, REGN, RHP, SAGE, SERV, SYH, AES, TDG, USFD, WLK and ZTS After Market Closes: ADT, Y, AFG, WTR, AIZ, CARG, DCP, DVN, FANG, ENLC, FLT, LOPE, GH, GWPH, HST, HUBS, JAZZ, KAR, MTCH, MCHP, NEWR, OHI, PE, PEN, PXD, PAA, PAGP, PLNT, SWX, TWO, VOYA, DIS and WYNN ADDITIONS TO WATCH LIST PLEASE NOTE: We sent out a long alert on MU this morning with an entry price of $41.65. It reached that level but we learned that the email might not have been received by everyone. It is an active alert with details below. 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 MU - Stock was added to the Watch List this morning at an entry price of $41.65 with a price target of $45.95 and a stop of any CLOSE below $40.The stock got as high as $42.51 this morning and a close back above that level might show a near term bottom is in. Medium Cap Watch List PRSP - Stock is currently trading below our stop of a CLOSE below $22.50. If it closes below that level it will be removed from the Watch List. Small Cap Watch List PRGS - Stock is getting hit hard today, down over 5.5%. If the stock CLOSES below $41.25 it will be removed from the Watch List. Deletions from Watch List None At your service, John Hopkins EarningsBeats