EB Watch List Update Report

Dear Members: MARKET NOTE: The bulls have a bit of a problem at the moment and especially after the Fed announcement yesterday which left the market in a state of confusion. As a result, all of the major indexes are lower. The worry in the market can be seen in the elevated VIX which is up by over 7% today which is keeping a lot of traders sidelined. All of the major indexes are in technical trouble, especially the NASDAQ which is struggling to get back to its 200 day moving average. It could be tough to get there if traders continue to hold off going long. The selling of late has put the major indexes closer to being technically oversold but they aren't there yet. The S&P opened at 2066 which is also the high of the day. It touched 2050 before bouncing back just above 2060. To we know the very near term range. Should selling pick up later and 2050 does not hold then 2042 is the next level of support. All of this leading to...we need to remain patient here as the market could be in trouble. We could get a bounce here and there but where traders were recently receptive to buying on dips we could see selling on moves higher. So first let's see if the bulls are able to move the S&P back over 2066 or if the bears take out 2050 first. KEY EARNINGS REPORTS Companies reporting earnings today (June 16) include: ORCL, RAD and KR Companies reporting earnings tomorrow (June 17) include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: Let's continue to lay low here and reassess later today 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 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