EB Watch List Update Report

Dear Members: MARKET NOTE: The bulls are continuing their winning ways of late with the S&P hitting its highest level since November of last year. At the same time the Dow is trying to get back to 18,000 for the first time since mid April. In the meantime, the NASDAQ is fairly flat. The VIX is down slightly and remains below all key technical levels which should be seen as a plus. I should point out that stochastics on all of the major indexes are stretched and the NASDAQ is technically overbought with the Dow and S&P not far behind. In addition, small stocks have been on fire lately and the Russell 2000 is now technically overbought as well. Perhaps this is why it's been more of a slow grind higher on the S&P than a rocket ship higher. And it's possible that for every trader that believes the market can go higher here there's one who believes there's not much room left for a move higher. You can put me in the second camp. I've never seen such a forced move higher; as though the Fed is participating in some way by helping to keep the market propped higher as they work through their own confusion. If the bulls manage to hold early gains then the next key level of resistance will be near 2128. So perhaps another 10 points to the upside. To the downside the bulls wi;; be looking to hold 2100 on any selling. So a very narrow range to work with at the moment. KEY EARNINGS REPORTS Companies reporting earnings today (June 7) include: PLAY, MIK and VRX Companies reporting earnings tomorrow (June 8) include: LULU and RH ADDITIONS TO WATCH LISTS: No way I will issue any long alerts here and can't issue short alerts either. In capital preservation mode. 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