EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls are one step closer to retesting the all time high of 2134 on the S&P. Test one was to clear the most recent high of 2120 and so far that has been done. This move higher comes after a much better than expected jobs report with traders treating good news as good news. And so far traders feel that even with this strong jobs report the Fed could be sidelined for a while presenting a good environment to be owning stocks. In fact, government bond yields are slightly lower with the ten year now at 1.38%. In the meantime the VIX is down by almost 7% as traders feel more comfortable being long stocks. While all of the major indexes are higher today the NASDAQ continues to lag both the Dow and S&P. In other words, it still has a long way to go to catch up with the Dow and S&P as traders seem to be mostly interested in blue chips and less risky stocks. Of course the big test for the bulls will come at 2134; it's not far away now but sometimes even a few points can make a big difference. But there's no denying a bullish undertone beneath the market. If we do see some profit taking later today 2100 should provide support and in fact perhaps we'll see some buying on any dips. Traders have waited a long time to see the S&P retest its all time high so are hoping to go along for the ride if it succeeds. KEY EARNINGS REPORTS Companies reporting earnings today (July 8) include: There are no key earnings reports due out today Companies reporting earnings Monday (July 11) include: A ADDITIONS TO WATCH LISTS: Monday will be the "official" kick off for earnings season when Alcoa reports its numbers after the bell. Over the next few weeks, thousands of companies will report their earnings and this is when we will be adding a lot of fresh candidates to our Candidate Tracker, some of which will become alerts. Stay tuned! 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 higher by 1.6% today and a close above $48.78 would be bullish. Mid Cap Watch List QRVO - Stock is up another 3% today as it moves closer to our price target of $57. 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. I want to wish everyone a restful weekend and will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins, EarningsBeats