EB Watch List Update Report

Dear Members: MARKET NOTE: The surprise move higher yesterday is showing further strength today with all of the major indexes higher. It's hard to say what caused the big bump yesterday; some are claiming short covering, which is very possible. But what matters the most is that all of the major indexes cleared all key technical levels, giving the bulls the upper hand. I do believe there is a camp that thinks this buying won't hold; this might prove to be true. But the bulls will be working hard to hold on to the momentum as they take a crack at that elusive 2100 level - they've gotten within 6 points so far today. Interestingly the move higher is coming as traders begin to believe the Fed will raise rates in June. In fact, the move higher could be a signal to the Fed to go ahead and raise and get it over with instead of keeping traders guessing as the market hates uncertainty. Whatever the case here we're now very close to very important resistance near 2100; the bulls have been turned back multiple times over the past year. To the downside, 2063 should provide support; both the 20 and 50 day moving averages are at that level. This is the range at the moment. KEY EARNINGS REPORTS Companies reporting earnings today (May 25) include: BMO.TO, COST, EV, HPQ, LGF, NTAP, PVH, TIF and WSM Companies reporting earnings tomorrow (May 26) include: ANF, BURL, CHS, DECK, DG, DLTR, GME, IGT, PANW, PDCO, RY.TO, SHLD, TARO and TECD ADDITIONS TO WATCH LISTS: We're very close to key resistance near 2100 on the S&P. Let's hold off doing anything else here and see if we get a tradeable pullback or if we clear that 2100 level. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List SKX - Stock is fairly flat and needs to close above $30.63 if it hopes to make further gains. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch list today unless a Watch List stock closes below or above the stop loss provided. At your service, John Hopkins, EarningsBeats