EB Watch List Update Report

Dear Members: MARKET NOTE: We can see now how tough it was for the bulls to clear 2100 on the S&P; it's been frustrating to the bulls. It doesn't mean it won't happen; it's just a level where the bears know they have to fight hard or give in. So far its been a volatile morning with the major indexes waffling between slightly higher or lower. On the one hand we've still got buying on the dips. On the other hand traders are prudent to take profits with the S&P so close to key resistance. Could be that traders are holding out until the monthly jobs report comes out on Friday. In fact, the results of that report could play a major role in whether or not the Fed raises rates. This is one of those times when I don't have to say much more; 2100 is King! If it stalls then we could see more selling. If the bulls manage to clear and hold above then we could go higher. To the downside the S&P hit 2085 earlier in the day so that is a level to watch. Should that go then 2076 is next. KEY EARNINGS REPORTS Companies reporting earnings today (June 1) include: CBRL, KORS and NA.TO Companies reporting earnings tomorrow (June 2) include: AVGO, CIEN, COO, DCI, FIVE and JOY 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 fairly flatup over 1% as the stock is now back above both its 20 and 50 day moving averages. A close above $31.44 would be bullish. Note that our target is $31.65 and the stock touched $31.50. So if you've got a nice profit don't be afraid to take it! 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