EB Watch List Update Report

MARKET NOTE: Dear Members: First, please note I will be conducting a webinar today at 4:30 PM eastern where I will discuss the method for how EarningsBeats.com stock trading candidates are selected and will discuss recent performance and how managing reward to risk really works in growing a portfolio. As an added bonus for attendees, I will be joined by StockCharts.com Senior Technical Analyst, Tom Bowley, who will discuss setting up ChartLists and how to run scans that meet specific criteria, quite a potent combo. I will send room instructions to all current members prior to the event. In addition, the session will be recorded for those of you who are unable to attend the live event. The market is in a good mood with all of the major indexes higher with the Dow and S&P hitting record highs as we begin a new trading day and week. Very interesting that now it is the Dow that is technically overbought as the rotation into blue chips continues. On the other hand it is now the NASDAQ that is lagging though it has managed to climb back above all key technical levels, at least for now. The VIX is showing a return to confidence as it is now back below all key technical levels. Now that the S&P has hit a new record level what might be next? If traders continue in a buying mood I would watch for 2460. Neither the S&P nor NASDAQ are overbought so there is room to run. Right now the trading range is 2460 to the upside and 2425 to the downside. This assumes the S&P clears today's high of 2452. So upside could be limited unless there is a big burst of buying on heavy volume. Very possible but as the market moves higher and gets more overbought traders could become more skeptical about committing too much capital to the long side. KEY EARNINGS REPORTS Companies reporting earnings today (June 19) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (June 20 ) include: ADBE, FDX, KFY, LZB, LEN and RHT ADDITIONS TO WATCH LISTS: We have added 130 new stocks to the Candidate Tracker and are in the process of adding the links any any annotations to these stocks, hopefully before the day is out. Will keep you posted. 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 slightly and remains above all key technical levels. CYH - Stock is up slightly and a close above $9.18 would be bullish. DELETIONS FROM THE WATCH LIST At your service, John Hopkins EarningsBeats