EB Watch List Update Report

Dear Members: MARKET UPDATE The market had been in non-stop higher mode since the recent bottom on July 6 so it was time to give up some of the gains which we've seen today with the Dow and S&P lower. The NASDAQ was red earlier in the session as well but continues to show the most strength at the moment on the heels of a blowout earnings report by Netflix. The VIX is up slightly after hanging out in the 9's the past few days. So at least traders are thinking about the notion of lightening up some in case selling intensifies. While NFLX had a blowout earnings report the same cannot be said about Goldman Sachs with the stock down over 2% on strong volume. This has had a negative impact on the overall financial sector which in turn is putting pressure on the Dow. Of course virtually all attention has now turned to earnings which will be the story the next few weeks. So far it's been a mixed picture but it's way too early to predict how traders will respond to overall earnings though expectations are high. The $USD continues to sink while bond yields continue to fall. So far this is being seen as a positive for stocks but that could change if earnings do disappoint, especially with stocks near all time highs. For the moment it continues to make sense to be nimble here. There's going to be a lot to digest this week with some major large cap stocks reporting numbers between now and Friday. Lost in all of this is options expire this Friday so we're likely to see a pick up in volatility. KEY EARNINGS REPORTS Companies reporting earnings today (July 18) include: Before Market Open: BAC, CMA, ERIC, GS, HOG, JNJ, LMT, NVS, PGR, AMTD and UNH After Market CLose: CSX, HBHC, IBM, NAVI and UAL Companies reporting earnings tomorrow (July 19) include: Before Market Open: GWW, MTB, MS, NTRS, TXT and USB After Market Close: AA, AXP, CHRW, KALU, KMI, QCOM, SLM, STLD, TMUS and URI ADDITIONS TO WATCH LISTS: Will let members know if spot any high reward to risk trading candidates. 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 PLAY - Stock is down by 1% as it just can't seem to clear its 20/50 day moving averages. Still needs to clear $67.05 which would be bullish and could take the stock higher. DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats