EB Watch List Update Report

MARKET NOTE: Dear Members: The market is taking a rest today with all of the major indexes trading pretty flat. Even though we aren't seeing any big follow through on the buy side we also aren't seeing any selling. In addition traders remain quite confident with the VIX back in the 9's. This in spite of lukewarm economic data this morning showing traders are more interested in the future rather than worrying about data representing the more immediate past. Though the major indexes aren't yet technically overbought they're getting close. But since the S&P has just cleared a key level of resistance the bulls are looking to add on to recent gains. The new all time high on the S&P is 2418 so clearing that level could take the market higher. We do have a three day weekend before us so perhaps traders will be content to let the market drift near the flat line into the close. As long as the S&P holds that 2406 level on any pullback the bulls will be pleased. In the meantime the action this week must be seen as positive. KEY EARNINGS REPORTS Companies reporting earnings today (May 26) include: BIG Companies reporting earnings Tuesday (May 30) include: BNS ADDITIONS TO WATCH LISTS: We issued another long alert earlier today with additional information below BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List TWTR - Stock is up over 1% today as it tested and held support at the 20 day moving average earlier in the session. A close above $18.43 should be seen as positive. TER - Stock is up slightly and a close above $35.78 would be very bullish. Mid Cap Watch List None at this time Small Cap Watch List BLMN - Stock was added to the Watch List today at an entry price of $20.22 with a price target of $21.85 and a stop of any INTRA day move below $19.78. DELETIONS FROM THE WATCH LIST None at this time I want to wish everyone a restful holiday weekend and I will be back Tuesday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats