EB Watch List Update Report

Dear Members: MARKET NOTE: We saw one again the S&P unable to clear 2100 yesterday and struggling again today. This repeated behavior is either going to push the bulls to try even harder or get traders thinking a near term top has been put in. Realistically it's only a few points away. But as you've seen these are a few tough points to get. The NASDAQ has been very resilient as of late as well but has stalled near 4950. In the meantime the much awaited OPEC meeting has come and gone with no oil deal made. I also noticed that the 20 and 50 day moving averages on the VIX are now exactly the same. And though the VIX is historically quite low that could change quickly, especially if traders decide in unison that a near term top is in. In some ways it's simple here; if the S&P clears 2100 that will be bullish and could lead to more buying. On the flip side another failure could push traders to the sidelines. KEY EARNINGS REPORTS Companies reporting earnings today (June 2) include: AVGO, CIEN, COO, DCI, FIVE and JOY Companies reporting earnings tomorrow (June 3) include: There are no key companies reporting earnings on Friday ADDITIONS TO WATCH LISTS: I still think the market could be topping here so will continue to lay low 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 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