EB Watch List Update Report

Dear Members: MARKET UPDATE The Skepticism of late is playing out on the NASDAQ today while the Dow continues on its merry way, touching 22,000 for the first time ever. The S&P is lower as well but so far has held all key technical levels. In fact, the NASDAQ has so far held its 20 day moving average after dipping below earlier in the session. The weakening in the NASDAQ comes the day after Apple reported strong earnings with the stock up sharply. I've been quite conservative of late but I would be more bullish if the market strengthens into the close as this could indicate that traders are willing to look at some tech stocks that have lost a lot of ground lately. The VIX has risen some though well off session highs as traders seem to have gotten through the worst part of the morning's selling. From our perspective, we now know the near term line in the sand on NASDAQ, 6313, this morning's low, as a move below that level could take the market even lower. The Dow remains technically overbought but moving above 22,000 could embolden the bulls. For sure any total reversal to the upside in the NASDAQ would have to be seen as bullish as well. We'll want to keep an eye on what happens as the day progresses as it is likely to give us fresh clues on the possible near term direction of the market. KEY EARNINGS REPORTS Companies reporting earnings today (August 2) include: Before Market Opens: AN, CAH, CG, CGX, DLPH, D, DX, EXC, GRMN, HUM, JLL, TAP, MDLZ, RIO, SSTK, SO, TWX and WD After Market Closes: ALG, AGO, CA, CAKE, CRUS, CTXS, TCS, DNB, FRT, FIT, FORM, FBHS, G, IAC, LVLT, LNC, MRO, MET, MUR, NBR, NUS, OXY, PKD, PRU, SWIR, SQ, SYMC, DATA, TTWO, TSLA, RIG, TRMB and WMB Companies reporting earnings tomorrow (August 3) include: Before Market Opens: AET, AGN, APA, AVP, BLL, CHK, CLX, DISH, DUK, SSP, GCI, H, ICE, K, KHC, NRG, PG, GOLD, BID, TEVA, WYN and YUM After Market Closes: ABTL, CZR, DYN, ELON, FLR, GRUB, HAYN, JCOM, OSTK, PGRE, RMAX,RNWK, SHAK, SWN, SYNA, VECO, VIA, WTW, WU and YELP ADDITIONS TO WATCH LISTS: We added General Electric yesterday and Microsoft to our Watch List this morning. To me, both additions are fairly conservative, especially with tight stops. More details below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GE - We added this stock yesterday with an entry price of $25.42 with a very tight stop of any INTRA DAY move below $25.25. Our price target is $26.60. MSFT - We added this stock this morning with an entry price of $71.69 with a very tight stop of any INTRA DAY move below $71.30. Our price target is $73.40. 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