EB Watch List Update Report

Dear Members: MARKET NOTE: The bulls continue their pursuit of the 2100 level on the S&P while tech stocks continue to shine. It's been a bit of a grind to try to get to that 2100 level; one would think if the bulls were so determined they would have cleared it by now. So it shows there is some reluctance to jump "all in" on the long side, especially since we could be nearing a top. As it pertains to the NASDAQ it is also nearing resistance just above 4930. The positive action throughout the week comes with the belief that the Fed will soon raise rates and in fact Fed chairwoman Janet Yellen will be talking at an event today, perhaps giving further clues as to what they are thinking. While stochastics are on the high end on all of the major indexes the respective RSI's are still not confirming an overbought condition. But it gets closer to that each day the market rises. We've got a long weekend so traders will need to decide if they are willing to hold stocks into Tuesday morning. Or, might we see some profit taking just as the S&P nears important resistance? What continues to matter is if the S&P closes above 2100 or if it stalls. And if there is selling, support remains in the 2068 range. KEY EARNINGS REPORTS Companies reporting earnings today (May 27) include: BIG Companies reporting earnings Tuesday (May 31) include: BNS.TO ADDITIONS TO WATCH LISTS: Not going to touch anything on the long side here as we are so close to key resistance. On the other hand it is tough to short here with strong market sentiment. 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 moved above all key technical levels earlier in the session before pulling back some. Key is a close above $30.55 which could take the stock higher. 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. I want to wish everyone a restful holiday weekend and I will be back Tuesday morning with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats