EB Watch List Update Report

MARKET NOTE: Dear Members: Finally, the bulls have managed to move the S&P above its all time high and now there is a NEW all time high. In addition, the Dow is now less than 100 points from its all time high. The NASDAQ continues to lag, having a tough time even getting back to 5000. But this is not totally unusual; something had to lead the way and so far that prize goes to the S&P, representing a broad swath of stocks in the universe. The nice move higher including Friday's gains comes on the heels of a much better than expected jobs report. Significantly, the move higher comes in spite of the recent weakness in oil, considering the movement in oil has dictated the move in stocks for a long time now. So some much welcomed de-coupling. We're also seeing government bonds higher today with the yield on the ten year now at 1.41% as traders move towards greater risk. The VIX is up slightly but well below all key technical levels; traders nerves have steadied. Now that the S&P is in rare air - it's never been here before - what might be next? Since there's no history it is hard to tell. My best guess is 2150 will be the next target; a nice round number. The bulls don't even want to think about a pullback here; it's taken too long to get to a new record high. The S&P closed at 2129 on Friday so that should provide some support. In the meantime there's no arguing that the bulls are in charge here and its coming on the "official" days of earnings season with Alcoa reporting its numbers after the bell. Once AA reports you can get ready for thousands of companies to report during July which should be quite revealing. KEY EARNINGS REPORTS Companies reporting earnings today (July 11) include: AA Companies reporting earnings tomorrow (July 12) include: FAST ADDITIONS TO WATCH LISTS: Please note that we will be adding a new batch of stocks to our Candidate Tracker by tomorrow. We'll let you know when these are available. This will present some fresh trading opportunities. 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 in consolidation mode today and a close above $49.46 would be very bullish. Mid Cap Watch List QRVO - We issued a profit alert on QRVO today as it hit our price target of $57. GREAT TRADE! Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: We are removing QRVO as it hit our price target. There are no other 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