EB Watch List Update Report

Dear Members: MARKET UPDATE Considering how much the market has risen since the most recent bottom the selling today doesn't add up to much. The bulls are doing everything in their power to keep the momentum on their side and so far are doing a good job. The VIX got as low as 9.39 earlier in the session, essentially matching the all time low and continuing to show complacency at an all time low. So traders either believe that there's nothing that can take the market lower here or are ignoring signs that historically have resulted in market tops. The $USD continues its downward move which has proven beneficial for stocks. However, the dollar is also in oversold territory and possibly nearing a near term bottom which in turn could lead to a correction in stocks. The Dow is currently the weakest of the major indexes as it touched its 20 day moving average earlier in the session before bouncing some. So the pecking order of tech stocks first and blue chips last continues. We're through the first week of earnings with mixed results but overall seen as positive. Now traders will be waiting for results of the largest market cap stocks like AAPL, GOOGL and FB who will reveal their numbers over the next week to ten days. Expectations for those companies are sky high so not much margin for error. With the weekend upon us and the market remaining stretched there's not much to do here but wait until Monday and reassess. KEY EARNINGS REPORTS Companies reporting earnings today (July 21) include: Before Market Open: CL, FITB, GE, GNTX, HON, HBAN, KSU, MCO, NVR, SLB, STI and VOD After Market Close None Companies reporting earnings Monday (July 24) include: Before Market Open: ARNC, BOH, MAN, SWK and TCF After Market Close: GOOGL, APC, CR, HAL, HAS, ITW, LOGI, RMBS and SWFT ADDITIONS TO WATCH LISTS: We will be adding lots of new stocks to the Candidate Tracker over the next few weeks and as more companies report their earnings. No additions to Watch List at this time. Going to remain patient for 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 PLAY - Stock got as high as $67.94 this morning, essentially hitting our price target of $67.95. Therefore we are removing from the Watch List. GREAT TRADE! DELETIONS FROM THE WATCH LIST We are removing PLAY from the Watch List as it hit our target price I want to wish everyone a restful weekend and will be back Monday morning with my EB WatchList Update Report. At your service, John Hopkins EarningsBeats