EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls continue to control the market with all of the major indexes higher and all in record territory. Standing out today is the NASDAQ which is technically overbought which makes sense since it has been up day after day for the past few weeks. The S&P is also technically overbought but not as stretched as the NASDAQ. In the meantime the VIX continues to show traders are very comfortable being long the market. The move higher today comes in spite of - or because of - a weaker than expected jobs report. On the one hand it shows perhaps the economy has stalled. On the other hand it likely keeps the Fed from being too aggressive when it comes to raising rates. The S&P got close to 2435 today while the NASDAQ isn't far from 6300. At this point it could become tougher for the market to rise non-stop, only because it's technically stretched. But there's a decent chance buyers will be waiting to jump in on any pullbacks. If I had to guess where the S&P might go the next level could be near 2450, a nice target for the bulls. To the downside there should be support near 2413, yesterday's low. KEY EARNINGS REPORTS Companies reporting earnings today (June 2) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (June 5) include: There are no key earnings reports due out Monday ADDITIONS TO WATCH LISTS: Will keep you posted on any new trading alerts. We will also be adding some stocks to the Candidate Tracker soon and will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List TWTR - Stock continues to consolidate and a close above $18.51 would be bullish. TER - Stock is down slightly but remains above all key technical levels and and a close above $35.78 would be very bullish. Mid Cap Watch List None at this time FOE - Stock is flat after touching $17.50 earlier in the session. Target remains $17.85. BLMN - Stock has perked up some and is now back above all key moving averages. Any close above the 20 day moving average, currently at $20.54, would be positive. DELETIONS FROM THE WATCH LIST None at this time I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats