EB Watch List Update Report

Dear Members: MARKET NOTE: I pointed out last week that traders seemed to have gotten more cautious in spite of a falling VIX, the primary reason being the narrow trading range in the S&P which has been unable to breakout to the upside yet has managed to hold key technical levels on selling. We saw again this morning that the bulls took control of the action only to be rebuffed as the S&P got to 2450 which is close to the top of the current trading range. We've also seen a 50 point swing on the NASDAQ as it has gone from nice and green to nice and red as it struggled right at 6300. Some would make the case that the market has topped but that's a tough call to make considering the S&P got within 4 points of its all time high this morning. So to me it's just a continuation of consolidation in a narrow range which is favoring neither the bulls nor the bears. We know the trading range on the S&P; 2429 to the downside and 2454 to the upside. Which one goes first? Don't know but we should be willing to wait for further evidence that either the market has topped or there's still room to run to the upside. KEY EARNINGS REPORTS Companies reporting earnings today (June 26) include: There are no key earnings reports due out today Companies reporting earnings Monday (June 27 ) include: DRI and KBH ADDITIONS TO WATCH LISTS: Will keep you posted on any new additions to the Watch List. Much rather continue to let the market come to us rather than chase it right now. 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 None at this time DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats