EB Watch List Update Report

Dear Members: MARKET NOTE: In yesterday's market update I made the case that the market was ripe for a bounce. We got that today with all of the major indexes higher. However, I also mentioned that the S&P would struggle at its 200 day moving average which is exactly what we are seeing today. At one point the S&P cleared its 200 day but now is back below. So what we've got is a very reluctant buyer here; traders are concerned that the gains of today could evaporate quickly and I believe that is a valid concern. The VIX is down over 15% BUT still remains above all key technical levels. So some relief today but how long will it last? The S&P got as high as 2027 today with the 200 day at 2021. So these are two levels to watch. To the downside the S&P got as low as 1991 yesterday which is now important support. In the meantime the bounce today was nice for a quick trade but we need to remain very cautious here in case the selling picks up once again. KEY EARNINGS REPORTS Companies reporting earnings today (June 27) include: CCL Companies reporting earnings tomorrow (June 28) include: AYI, GIS, MON and UNF ADDITIONS TO WATCH LISTS: We issued two long alerts yesterday for a bounce. No new additions 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 QRVO - Stock made a strong move this morning but has since pulled back. Would like to see it at close back above its open of $51.81. Small Cap Watch List Tasr - Stock is up over 3% but off its high of the day. Target remains $24.05 but is likely to take a cooperative market to get there. 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