EB Watch List Update Report

Dear Members: MARKET NOTE: The market is now in full blown confusion mode whether its what the Fed will say come Wednesday, if Brexit will become a reality, if oil has topped and if the recent high of 2120 on the S&P marks a near term top. All of that combined has traders on pins and needles as the new trading week is underway. You can see how nervousness has quickly escalated with the VIX up over 8% and now is back above all key technical levels which is bearish. Even with this near term concern the S&P remains above all key technical levels so add that to the confusion list. Part of what's going on can be explained by the move last week on the S&P to that 2120 level. That put it within one decent run of its all time high which apparently was too much for the market to accept. We've also got a bifurcated market; tech stocks are much weaker than blue chips. This makes it tougher to gain any serious momentum. It's almost guaranteed the market will be highly volatile into and after the Fed rate decision. Right now no one is expecting an increase at this meeting but it shouldn't be ruled out completely. For sure the market is looking for guidance for the July meeting. So it is possible that by Wednesday afternoon we'll know if the bulls have a legitimate shot at getting back to the all time high of 2134. Until then they hope to hold 2091 which represents the 20 day moving average. KEY EARNINGS REPORTS Companies reporting earnings today (June 13) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (June 14) include: There are no key earnings reports due out on Tuesday ADDITIONS TO WATCH LISTS: It makes no sense to get aggressive at this exact moment so we'll hold off adding any additional stocks to our Watch List 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 There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List OSK - Stock is flat and needs to close back above $45.85 to get back on trace. 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