EB Watch List Update Report

MARKET NOTE: Dear Members: Sometimes the market starts to "feel" long in the tooth. This is what it feels like to me now. It's been a great run ever since traders bailed out after the Brexit vote. Now its pretty much been up non-stop which is a testament to the strength in the market. But the market hasn't had any time to catch its breath. Earlier in the session the VIX got down to its lowest level since August of last year. The equity only put/call ratio remains close to .50; everyone is bullish! And this move higher today came in spite of the Bank of England holding off on lowering rates, something the market was expecting but simply decided to ignore. Both the Dow and S&P hit new all time highs today; pretty impressive. And even the NASDAQ hit a level not seen since the end of last year. But tech stocks continue to lag badly; investors still remain attracted to blue chips and non tech stocks. We do need to remember that the bulls have been waiting for a breakout on the S&P for a long time now so aren't just going to roll over easily. But for the moment I think we need a breather, something that will present better opportunities than now. Should we see selling I would look to see if 2130 holds on the S&P. To the upside we now have a new target, 2169, the high of the day. KEY EARNINGS REPORTS Companies reporting earnings today (July 14) include: BLK, DAL, JPM and PGR Companies reporting earnings tomorrow (July 15) include: AMLP, C, PNC, USB and WFC ADDITIONS TO WATCH LISTS: First, please note that we have added a batch of companies that beat earnings expectations to our Candidate Tracker. We now have over 100 stocks on the list and will be looking at carefully to see which ones present high reward to risk opportunities and might become trade alerts to our members. We're going to hold off issuing any at the moment as the market seems to stretched here. 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 up slighty and a close above $49.46 would be very bullish. Mid Cap Watch List 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 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