EB Watch List Update Report

Dear Members: MARKET NOTE: Blue chip stocks are lower today but the same cannot be said of tech stocks on the heels of some strong earnings with the NASDAQ hitting an all time high. It's not hurting that tech giants like Netflix and Google have seen double digit gains on their numbers as the NASDAQ closes in on 5200. The VIX is fairly flat but remains at levels not seen since late last year as traders remain attracted to stocks. The record high on the NASDAQ comes in spite of a US dollar that is showing strength which often has a negative impact on equities. So you can see that the bottom line trumps about everything which helps explain why the NASDAQ continues to outperform the Dow and S&P. Now the bulls are hoping to head into the weekend on a positive note and at the moment they enjoy the technical advantage all the way around. This comes right when we begin the second weakest historical stretch from July 17 to July 24. As long as earnings remain strong the market should remain strong as well. KEY EARNINGS REPORTS Companies reporting earnings today (July 17) include: GE, HON and STI Companies reporting earnings Monday (July 20) include: HAL, HAS, IBM and MS ADDITIONS TO WATCH LISTS: Earnings season continues to heat up with some key companies getting a strong market response. From our perspective, the more companies that beat earnings expectations, the better, as it will give us a larger pool of trading candidates to choose from as we will be adding a lot of stocks to our Candidate Tracker and then scanning further for high reward to risk opportunities to present to our members. Stay tuned! BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List MSFT - Stock closed above all key moving averages yesterday which is a positive development Mid Cap Watch List GPRO - Stock is up over 1% today. A close above $57.05 would be very bullish. Small Cap Watch List TILE - Stock lacked volume on yesterday's move higher and needs to hold its 20 day moving average at $24.42 or could move lower DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock hits its stop loss. I want to wish everyone a restful weekend and I will be back Monday with my next EB Watch List Update report. At your service, John Hopkins, EarningsBeats