EB Watch List Update Report

MARKET NOTE: Dear Members: What have we got going today? Right now the S&P is up slightly for the day as it trades in a narrow range. The good news for the bulls is the S&P held its 20 day moving average two sessions in a row, showing continued interest in stocks. The less than great news; the S&P is about 30 points above where it was when it hit its high of 2132 back in July of last year. Talk about a market going nowhere fast. But traders don't care about what happened a year ago; they are interested in the here and now, which makes sense. The action today comes on the heels of the BOE lowering rates to try to jump start the economy across the pond. The change was expected but it was even more aggressive than most had anticipated. Generally the US market has responded positively to Central Bankers lowering rates. But it could be getting to a point where traders are wondering how much more can the Central Bankers do? Of course traders are even more interested in what tomorrow's jobs report will look like. For sure the results can be a major market mover, particularly if the report is too hot or too cold with traders wondering if the Fed might raise rates if the number is strong. Right now we've got a clear range on the S&P of 2178 to the upside, the most recent high, and 2147, the most recent low. On the one hand, it is encouraging that the S&P held its 20 day with the recent selling. On the other hand, we're in a very bearish period of the year, earnings are nearing an end and traders are looking for reasons to be long - or short. This is why tomorrow's report is so important and could help to determine the near term direction of the market. KEY EARNINGS REPORTS Companies reporting earnings today (August 4) include: ADS.DE, ALU.PA, APA, BLL, CHK, DUK, FRT, FEYE, FLR, HAR, HSIC, IRM, ITT, K, LNKD, LGF, MGM, MHK, MNST, NOKIA.HE, PH, PCLN, SIE.DE, SYMC, TTWO, TRIP, VIAB, ZG and ZNGA Companies reporting earnings tomorrow(August 5) include: AES, AMLP, CTSH, KHC, LMCA and WY ADDITIONS TO WATCH LISTS: I will be looking closely at the stocks on our Candidate Tracker and let members know if I spot something that looks like a high reward to risk opportunity. Might want to wait until the jobs report is out of the way tomorrow to gauge the market reaction. 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 Mid Cap stocks on the Watch List at this time Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: At your service, John Hopkins, EarningsBeats