EB Watch List Update report

Dear Members: MARKET NOTE: The market has steadied some today after the bulls managed to hold the important 200 day moving average on the S&P yesterday. It wasn't by much but it held nonetheless. This in spite of the shellacking Asia took yesterday. Now as we near the end of July traders will continue to focus on earnings reports but can add the Fed interest rate announcement scheduled for tomorrow afternoon to the list of things to think about that could impact the market. As usual no one expects the Fed to change rates at this meeting and that is supported by falling yields on government bonds since they peaked in late June. We're also going to get a very important report on Thursday, Q3 advanced GDP. It's a big number because as you might recall last quarter came out negative and the market would not take kindly to another negative quarter which could imply an economic recession. It's not predicted to be negative but traders are likely to remain cautious ahead of the Fed and GDP reports. KEY EARNINGS REPORTS Companies reporting earnings today (July 28) include: ALLY, APC, BWLD, CTXS, GLW, CMI, F, IR, MMC, MRK, NLSN, PFE, SIRI, TASR, TXT, TWTR, UPS, WAT and YELP Companies reporting earnings tomorrow (July 29) include: MO, BAX, LNG, EXC, FB, FISV, GRMN, GD, HSIC, HES, HLT, IP, TILE, LRCX, LVLT, MAR, MA, MCK, MET, NOC, PSA, ROK, SBAC, SO, WDC, WFM, WMB and WYNN BLOGS: Make sure you check out Tom Bowley's blog, exclusive to EarningsBeats.com members, that focuses on August historical performance. You can find Tom's blog on the site under the Member section of our site. A MUST read! CANDIDATE TRACKER We will be adding quite a few new stocks to our Candidate Tracker this week as a result of the large number of companies that recently reported earnings. We will keep you posted. ADDITIONS TO WATCH LISTS: The annotated chart and full details (entry, stop loss and target) for Citigroup, which was added to our Watch List yesterday, has been added to our site. As a reminder, you can get to each chart by clicking on the Watch List link under the Member section and then putting your cursor over any stock symbol on the Watch list and drag to the left where you will see a Print and View Record link. If you click on the View Record link it will take you to the stock and show you all important levels. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List No comments on Large Cap stocks Mid Cap Watch List MW - Stock hit $59.50 yesterday so triggered our second entry. Is bouncing some today but on light volume. Small Cap Watch List TILE - Stock reports its earnings tomorrow after the bell closes so at some point between now and then we will be taking it off the Watch List as we do not hold stocks into earnings reports. We will keep you posted. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats