EB Watch List Update Report

Dear Members: MARKET NOTE: The market is in positive territory ahead of the Fed rate announcement scheduled for 2:00 pm eastern today. All of the major indexes are higher with the S&P touching 2100 with the bulls very pleased they were able to hold the line at the 200 day moving average earlier in the week, and exactly when needed. Now only the Dow remains below all key technical levels as traders continue to favor tech and non blue chip stocks. The VIX, which had climbed back over 16 on Monday has pulled back below all key technical levels, favoring the bulls. So now traders are waiting to see what the Fed has to say and are also waiting on a slew of earnings reports that will be released later today. Then a very important report tomorrow; Q2 advanced GDP that will be the first look at the overall economy or last quarter. A lot to absorb and most definitely a set up for increased volatility, depending on overall market response. For now the bulls would like to see the S&P close back above 2100 as it would give them the technical advantage and more to work with as we near the end of July. KEY EARNINGS REPORTS Companies reporting earnings today (July 28) 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 Companies reporting earnings tomorrow (July 30) include: AMGN, BA.L, BLL, BWA, CAH, CI, CL, COP, DLPH, FCAU, FLR, G.TO, HST, IVZ, LLL, LNKD, MPC, OXY, POT.TO, PG, RBS.L, SWK, HOT, TMUS, TWC, UHS, VLO, and WU BLOGS: I have posted a new blog on Behavior Modification on the site. Also, 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: We are adding Lennar Corp (LEN) to our Large Cap Watch list at the current price of $51.30 with a second entry at $48.88 on a pullback. All other details, including price target and stop loss will be included in the chart we will add to our site prior to tomorrow's open. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List C - Bouncing nicely off its first 20 day test COTY - In the last two days it's neared our second entry of $26.27 Mid Cap Watch List MW - Stock is consolidating in a bullish wedge and a breakout above near $61.30 would be bullish Small Cap Watch List TILE - Stock reports after the bell so we are REMOVING from out Watch List at $24.11, pretty much a break even from the most recent entry. DELETIONS FROM OUR WATCH LISTS: We are removing TILE from the Watch List. There are no other deletions from the Watch List today unless a Watch List stock hits its stop loss. At your service, John Hopkins, EarningsBeats