EB Watch List Update Report

Dear Members: Good morning! Market Update: There's a battle going on right now between the bulls and the bears with the S&P trying to clear its 20 day moving average the NASDAQ slightly above and the Dow still below both its 20 and 50 day moving averages. Already this morning it looked like the market would be in trouble then buyers stepped in only to see red all the way around. Still, the struggle to even get back above key technical levels shows traders remain skeptical here, unlike what we saw from the June 3 bottom where any type of dip was bought up aggressively, leading to all time highs. If you look at a chart on the S&P you will see it hasn't gotten anywhere the past few weeks and remains well below its all time high. And, if you look at the action underneath the market, specifically a lot of stocks that had led the way higher in the past, they are struggling to make any progress with many of them way below their most recent highs. For sure - with a few exceptions - the big moves some individual stocks were making not long ago have cooled; profits are being taken more quickly. So the whipsawing continues. The 20 day on the S&P is currently at 2920 and if it can close above that level that should be seen as a positive. To the downside there should be support around 2894 and if that goes expect more selling. So that's the range at the moment we should keep an eye on. Companies reporting earnings today (August 20) Before Market Opens: HD, KSS, MDT, SE, MSG and TJX and TGT After Market Closes ALC, AMCR, CREE, JKHY, NDSN and TOL Companies reporting earnings tomorrow (August 21) Before Market Opens: ADI, LOW, PDD, RY After Market Closes: HTHT, KEYS, LB, JWN, PSTG, SQM, SPLK, SNPS and ZAYO STRONG EARNINGS CHARTLIST/ADDITIONS TO WATCH LIST Please note we are still experiencing a technical issue with our Strong Earnings ChartList link for those of you who are not StockCharts.com Extra level or higher members. Hope to have it fixed soon. In the meantime remember that all of the stocks on our Strong Earnings ChartList are on our site for all members to access, including annotated charts. https://www.earningsbeats.com/members/candidate-tracker.cfm We will keep you posted. Also, our focus the past few days has been on Tom Bowley's Top 10 Stock Picks that were released yesterday. We will continue to be very selective on individual trade alerts 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