EB Watch List Update Report

Dear Members: MARKET NOTE: If you like a tricky market, you've got one. On the one hand it looks like the market is trying to put in a temporary bottom. On the other hand traders are using any bounces as an opportunity to move to the sidelines. Confidence has slipped some with the VIX back above both its 20 and 50 day moving averages; back to one or two fingers on the sell button. The S&P keeps flirting with its 20 day moving average; it's not making much of a move. The NASDAQ got as low as 6100 before bouncing but it too is struggling to gain traction. What I'm watching for is the S&P to clear its 20 day, now at 2429, with some gusto. Even then its got some resistance up near 2440; that's not much upside. On the flip side its got support at the 50 day, now at 2413, so unless it picks up steam as the day progresses it could easily work its way down to that level. The market really is sitting in a precarious position which leads me to wanting to remain very cautious here. No rush, let's sit back and let it play out and revisit when appropriate. KEY EARNINGS REPORTS Companies reporting earnings today (July 5) include: MLHR Companies reporting earnings tomorrow (July 6 ) include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: Please note that we are updating our Candidate Tracker today and will let you know when it is ready for your review None at the moment. Let's wait for even better opportunities. 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