EB Watch List Update Report

MARKET NOTE: Dear Members: It was rare to see all of the major indexes hitting new all time highs in unison but that is exactly what we saw yesterday. It shows that interest in stocks in broad; not just one index, not just one sector. So there's interest in blue chips as well as tech stocks which adds to the current bullish mood. Though stocks are lower today it's not by much, especially considering monthly retail sales came out so weak. But perhaps traders are seeing bad news as good news, keeping the Fed at bay. Whatever the reason, we've got the VIX lower today as fear remains contained. Some additional good news for the bulls; none of the major indexes are technically overbought though the NASDAQ remains the most stretched. So there's more room to move to the upside should traders remain in a buying mood. Now that we've got new record highs all the way around there's no historical data to tell us what might be next. However should the S&P clear 2188 the bulls would likely be looking to take a shot at 2200. To the downside there is technical support at the 20 day moving average, now at 2166. Tough to be bearish at the moment in spite of this typically being a bearish time of the year. Instead traders seem to be poised to buy on any further dips which must be seen as bullish. KEY EARNINGS REPORTS Companies reporting earnings today (August 12) include: JCP Companies reporting earnings Monday (August 15) include: There are no key earnings reports due out on Monday ADDITIONS TO WATCH LISTS: I've got my eye on Agilent Technologies (A) which is knocking on the door of a potential breakout. The stock has tried to clear the $48.20 level a few times which would represent an all time high. SO, if it clears that level it might become an alert as it could move higher. Just don't want to get in prematurely to see it fail again at that level. Also will let you know via email if I spot any other high reward to risk 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 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 HAWK - Stock is down by 1.3% after yesterday's nice bounce. A close back above $34 would be bullish. CIEN - Stock is up slightly and a close above $20.99 would be bullish. DELETIONS FROM OUR WATCH LISTS: None at this time. 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