EB Watch List Update Report

MARKET NOTE: It's a pretty quiet day with the market down slightly. In addition to the market being mostly flat, the S&P is sitting exactly on its 20 and 50 day moving averages, which are now the same. It's as close to a snapshot of indecision as you will see. On the one hand, the bulls can't get anything going here. On the other hand, the bears have been unable to inflict serious market pain. Thus, going nowhere fast. Regardless of what the headlines might be spewing, the Fed isn't about to raise rates in September. If they were, yields would be higher. Instead, the ten year treasury note is sitting at a yield of 2.17% and a close below 2.14% would likely take yields lower. And the VIX continues to show little fear in spite of the occasional scare that stocks might be heading lower. And the US dollar has stalled as well. So indecision all the way around making it a bit trickier to trade and increasing the need to find those stocks that will hold up the best in any type of market environment. KEY EARNINGS REPORTS Companies reporting earnings today (August 4) include: AET, ADM, CERN, CHTR, COH, CVS, DVN, FSLR, H, JCOM, K, MGM, MOS, PH, S, TRMB, DIS and Z Companies reporting earnings tomorrow (August 5) include: ABX.TO, CBS, CTSH, DISCA, DISH, D, FRT, FIT, ICE, GMCR, PCLN, PGR, PRU, RL, GLE.PA, TSLA, and TWX BLOGS: I have added another Behavior Modification Case Study on my blog which you can find on our site under the Members section. Also, with a new trading month here it is a good time to check out Tom Bowley's blog, if you haven't already had the chance, that focuses on August historical performance. You can find Tom's blog on the site under the Member section of our site. CANDIDATE TRACKER We added over 30 new stocks yesterday to the Candidate Tracker and you can now see EPS and Revenue actuals and estimates for each stock on the Candidate Tracker Report page; makes for easier viewing and a nice snapshot. This is a change from where we used to show the EPS and Revenue data on the chart. You will sill be able to click on a link that will take you to a StockCharts.com chart. We will continue to add stocks as earnings season progresses with some of them turning into Watch List stocks. Remember that when we add a stock to the Candidate Tracker it has reported earnings fairly recently and we like to first watch the initial market reaction and any subsequent pullbacks that help increase the reward to risk ratio. ADDITIONS TO WATCH LISTS: Just a reminder that we added Korn Ferry (KFY) to our Small Cap Watch List yesterday at $33.27. All details have been added to the site including price target and stop loss. 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 - Short term like to see the stock close over $59 which would be bullish. Rising 20 day moving average underneath continues to hold. COTY - Tested its falling 20 day moving average from underneath earlier and so far has failed. A close above that level, now at $27.69, would be bullish. LEN - Testing its rising 20 day ema at $51.84 on light volume Mid Cap Watch List MW - Trying to rebound off of gap support. Reversing candle today would be bullish. Small Cap Watch List KFY - Stock up 2% today but on light volume. Price and moving average resistance are between $34 and $34.10 and a close above $34.10 would be bullish. Please take note that KFY is a staffing company which could be affected by Friday's jobs report. There are no Small Cap stocks on the Watch List at the moment 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