EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls got their shot at 2100 on the S&P and cleared it earlier and are now back to trying to hold above that level. We all know by now that 2100+ has been a tough level to close above and with the monthly jobs report due out tomorrow perhaps traders are being careful to not be overexposed to stocks. The good news for the bulls is weekly jobless claims came out lower than expected and the ADP private sector report beat expectations as well. These better than expected reports got traders excited early on which saw the S&P touch 2109 before some profit taking kicked in. I noticed the yield on the ten year treasury note got as high as 1.42 today which doesn't seem like much but its almost 10 basis points higher than the all time low the other day of 1.33. You can bet traders will be watching closely if the bottom has been put in. The VIX is up slightly but remains below all key technical levels which remains bullish. So the signals are decent at the moment and especially if the S&P works its way back above 2100 at a minimum. If the bulls are successful then the next key level of resistance becomes 2120 and then the "big one", the all time high of 2134. Should the S&P falter later then 2077 is a key level of support. KEY EARNINGS REPORTS Companies reporting earnings today (July 7) include: PEP Companies reporting earnings tomorrow (July 8) include: There are no key earnings reports due out today ADDITIONS TO WATCH LISTS: We added NWL to our Watch List yesterday and all details can be found on our site BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List NWL - Stock is down slightly as it hovers around its 20 day moving average. Would like to see it close above $47.95 which would give it the technical advantage Mid Cap Watch List QRVO - Stock is up over 3% today as it has climbed back above all key technical levels. Closing above $53.76 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