EB Watch List Update Report

MARKET NOTE: Dear Members: So, what happened yesterday that got my attention? All of the major indexes held key support when they could have easily gone much lower. Then today stocks got off to a rough start but have since recovered. This is coming with bond yields at historic lows, gold continuing its move higher and the US dollar strengthening. So when putting this all together I consider the move higher in stocks today bullish. For sure the market has had many reasons to fold but it hasn't. Perhaps there is something to the notion that the US remains one of the safe havens to deploy capital. We've got some important information releases coming out the next few days including minutes from the latest FOMC meeting later today and then the jobs report on Friday. The VIX is flat today before spiking early on and remains below all key technical levels. As usual the market could easily retreat out of nowhere but overall the action today is compelling. And now the bulls will try once again to clear 2100, hoping they get a shot at the all time high of 2134. If we see today's rally stall the bulls will need to hold 2077 on the S&P on any selling. In the meantime we might get an even better sense of where the market is heading once the FOMC minutes are released today at 2:00 PM eastern. KEY EARNINGS REPORTS Companies reporting earnings today (July 6) include: There are no major companies reporting earnings today Companies reporting earnings tomorrow (July 7) include: PEP ADDITIONS TO WATCH LISTS: We added QRVO to our Watch List yesterday and all details can be found on our site We may add another long alert to our Watch List today and will let you know if we find another high reward to risk candidate. 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 is up over 1% today and a move and close above the 20 day moving average, now at $53.69, would be bullish. 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