EB Watch List Update Report

Dear Members: MARKET NOTE: We're back after the long holiday weekend as we begin a new trading day and week and with the month of May coming to an end. So far the bulls managed to move the S&P above 2100 but so far it has not held. That's not surprising; it often takes more than one attempt to clear an important level. But you can bet the bears are watching closely to see if the most recent bout of buying is over while the bulls will be working overtime to close above that 2100 level. Up until this morning, it's pretty much been straight up each day since the S&P touched 2025 on May 19. So perhaps a breather is what the market needs. But make no mistake about it; 2100 is a BIG deal! In fact, it closed above that level two days in a row on April 19 and 20. But then you have to go back to December of last year which was the last time the S&P closed above 2100. So a lots at stake here. One could argue that this would be a great place to put on some shorts with a tight stop, so if the S&P closes above 2100 positions would be covered. But the momentum has been so strong that we're seeing buying on the dips so you'll have to be fast on the trigger if you go that route. In the meantime, there's not much more to say; a close above 2100 keeps the bulls in charge while a failure to close above that level could result in some profit taking. KEY EARNINGS REPORTS Companies reporting earnings today (May 31) include: BNS.TO Companies reporting earnings Tuesday (June 1) include: CBRL, KORS and NA.TO ADDITIONS TO WATCH LISTS: Going to continue to watch the action and remain conservative at the moment 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 up over 1% as the stock is now back above both its 20 and 50 day moving averages. A close above $31.04 would be bullish. 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