EB Watch List Update Report

Dear Members: The market is struggling once again with all of the major indexes lower but off of session lows. Earlier in the morning the VIX spiked sharply, moving over all key moving averages. Since then it has settled down some and has at least moved back below the 200 day; that's a start. I can point to a few things I'm seeing that indicate the market is trying to put in a near term bottom. That includes both the Dow and S&P touching important technical levels and so far holding. The NASDAQ did put in a near term lower low but so far has held that level as well. Also, though not there yet, it wouldn't take much more selling for the NASDAQ to be technically oversold. We could continue to see continued volatility here as traders try to determine if the worst of the selling is over. What we should watch for now is to see if the major indexes can put in higher lows on any additional selling. It's also important that the S&P hold its 50 day, now at 2413. Better yet, if it could clear its 20 day, now at 2428, that would be a very positive sign. Not ready to give the all clear signal yet but we did nibble on a few long alerts on stocks with high reward to risk possibilities. So still need to be vigilant here but at least so far the bulls have done what they needed to do to avoid the next leg lower. Now we can see what happens as the day progresses; will traders continue to sell on any bounces or will interest pick up on the buy side with stocks cheaper than they were just a few weeks back? KEY EARNINGS REPORTS Companies reporting earnings today (July 6) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (July 7) include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: Please note that we have updated the Candidate Tracker with some additional companies that beat earnings expectations We added TGI yesterday and PLAY today to the Watch List with additional information below 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 TGI - We added this stock to the Watch List yesterday at an entry price of $31.40 with a price target of $33.85 and a stop of any close below the 20 day moving average. A close above $31.60 would be bullish. PLAY - We added this stock to the Watch List this morning at an entry price of $64.60 with a price target of $67.95 and a stop of any INTRA DAY move below $63.80. A close above $65.36 would be bullish. DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats