EB Watch List Update Report

Dear Members: MARKET UPDATE The market is finally showing some signs of weakening , particularly the NASDAQ. In fact it almost touched its 20 day moving average yesterday as selling kicked in and today it is lower as well but so far holding well above the 20 day. The VIX perked up yesterday after hitting an all time low earlier in the week and is now back above both its 20 and 50 day moving averages. So traders finally took note of the complacency and decided in unison to take profits on some on the high flyers. This includes Google and Amazon on weaker than expected earnings. In the meantime, the Dow is shaking off the increased nervousness as it hits a new all time high today. Looks like a shift, at least in the very near term, from tech to blue chips, likely being perceived as safety. The S&P also tested its 20 day moving average yesterday and bounced right on cue. So a mixed picture following some worries yesterday that continue some into today. A big question I'm asking myself; was yesterday's selling in the NASDAQ a "one-off" or just the beginning of a much greater pullback? Considering we have now gotten earnings from a representative group of stocks and are nearing a period of the year where stocks can soften I continue to believe it makes most sense to be cautious here, especially as we head into the weekend, and we can revisit come Monday. KEY EARNINGS REPORTS Companies reporting earnings today (July 28) include: Before Market Opens: AAL, BHGE, B, CPN, CVX, CS, XOM, GT, MRK, TEN and WY After Market Closes: None Companies reporting earnings Monday (July 31) Before Market Opens: DO, L, SERV and SOHU After Market Closes: FICO, HLS, OI and SBAC ADDITIONS TO WATCH LISTS: As a reminder, we update the Candidate Tracker yesterday which is now available to members 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 I want to wish everyone a restful weekend and will be back Monday morning with my EB Watch List Update Report At your service, John Hopkins EarningsBeats