EB Watch List Update Report

Dear Members: Good morning! It's Webinar day and what makes it even more special is the announcement over the weekend that Tom Bowley, Senior Technical Analyst at StockCharts.com is coming back as Chief Market Strategist at EarningsBeats.com. In case you missed the announcement just click here https://stockcharts.com/articles/tradingplaces/2019/08/im-returning-to-my-roots-at-ea-480.html for more details. And make sure you join us for this afternoon's Top 10 Stock Picks Sneak Preview Webinar at 4:30 pm eastern where Tom will be discussing the methodology behind his stock selections just one week before he reveals his Top 10 picks in his Model, Aggressive and Income portfolios. There is no need for you to register for the webinar and you will be sent room instructions prior to the start of the event which will begin at 4:30 pm eastern. Also the webinar will be recorded for those of you unable to attend the live event. Market Update: Volatility continues to rule as the VIX climbed back over 20 today and as all of the major indexes are back below all key technical levels as we begin a new trading day and week. In addition the 20 day moving average on the Dow is now touching the 50 day with the same pattern developing on the NASDAQ and S&P and any time the 20 day moves below the 50 day it can be problematic for the bulls. You might recall that when the market bottomed in late December of last year that virtually all pullbacks were seen as buying opportunities. That could turn out to be true again but right now traders seem content to lock in any gains on any bounces. Some good news for the bulls; so far the S&P is well above last weeks low of 2822 which is now support. But as soon as the S&P touched its 50 day moving average last week the selling kicked in. That 50 day is now at 2939 so that is a level the bulls will need to clear to regain some technical advantage. In the meantime this is one of those times where being in cash is not a bad strategy. Companies reporting earnings today (August 12) Before Market Opens: GOLD, SYY and TSG After Market Closes EC and TME Companies reporting earnings tomorrow (August 13) Before Market Opens: AAP, ELAN, GDS, IAA, JD, and PSN After Market Closes: ADPT, CDK, GO, HUYA, TLRY and YY ADDITIONS TO WATCH LIST You will notice there are currently no active alerts. That's because the whipsaw action we've seen lately makes it more difficult to score in any significant way. We will continue to be very selective and 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 None Medium Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats.com