EB Watch List Update Report

MARKET NOTE: Dear Members: The trend of late continues with the NASDAQ the weakest of the major indexes while the Dow continues to show the greatest strength. This is quite a difference compared to what we saw for many months before the recent rotation into blue chip stocks. But the big news of the morning is Amazon buying Whole Foods; it's putting a sizable dent in many of the grocery retailers and putting some downward pressure on the market in general as traders wonder what other sectors AMZN might have its sights on. So far only the NASDAQ is below its 20 day moving average with the S&P showing some strength yesterday as it held its 20 day right on cue. The NASDAQ got as low as 6107 yesterday before bouncing some. Now that 6107 level is support. If that goes then we could easily see a trip to the 50 day, currently at 6085. The VIX is higher today but not at a level that is overly concerning, at least not yet. We're at an interesting time of the year with the Fed rate decision now behind us, the next big batch of earnings report not due out for a month and we're heading into summer. This could explain some of the recent weakness with traders asking, "what's next?" It's a valid question to ask as we've seemed to moved away from buy on the dip to more take profits on any move higher. Of course the sentiment could shift quickly; the Dow hit an all time high just two days ago and the S&P still remains within striking range of its all time high. Still, this seems to be a time to be pickier than usual with traders seeming to have at least one finger on the sell button rather than jumping all in on the long side. KEY EARNINGS REPORTS Companies reporting earnings today (June 16) include: There are no key earnings reports due out today Companies reporting earnings Monday (June 19) include: There are no key earnings reports due out Monday ADDITIONS TO WATCH LISTS: Will keep you posted. Want to continue to be very selective here. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List BLMN - Stock is up oevr 1.5% today and back above all key technical levels which is important if it hopes to make a move higher. CYH - Stock is fairly flat again today and a close above Wednesday's close of $9.18 would be bullish. DELETIONS FROM THE WATCH LIST At your service, John Hopkins EarningsBeats