EB Watch List Update Report

Dear Members: MARKET UPDATE The going nowhere market continues with traders absorbing a better than expected jobs report this morning and then getting back to business as usual. Really the only thing that has happened today is the Dow has gotten more overbought, now green 8 sessions in a row. Meanwhile the NASDAQ and S&P are both unable to gain any traction. The NASDAQ has now visited its 20 day moving average for 7 sessions in a row, and so far has held.The bulls will argue that is a good sign while the bears will point out that the index is weakening. The VIX is showing traders are taking everything is stride as it is lower by over 5% and back in the 9's. Interesting because it shows no fear yet the major indexes aren't showing an aggressive buyer. We're at a point in the earnings season where traders have a very good idea of the health of corporate America and they've mostly liked what they've seen. But we're moving into the tail end of Q2 earnings season with traders already asking, what's next? We are entering what is generally a bearish time of the year. Will it matter this year? Maybe, but so far stocks have held up quite well, in spite of a current buyers strike. For now nothing much to do, especially as we head into the weekend. Can come back and reassess on Monday. KEY EARNINGS REPORTS Companies reporting earnings today (August 4) include: Before Market Opens: CBOE, CI, CTB, ITT, JOUT, NWL, REV, TDS and USM AfterMarket Closes: None Companies reporting earnings Monday (August 7) include: Before Market Opens: BAH, FDX, ON and TSN After Market Closes: CAR, RATE, CBS, HHC, LQ, LC, MAR and THC ADDITIONS TO WATCH LISTS: None at this time. Will revisit Monday. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GE - Stock is fairly flat. A close above $25.79 would be bullish. MSFT - Stock is up over 1% as it has moved back above its 20 day moving average. A close above $73.04 would be bullish and put us a step closer to our price target of $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 I want to wish everyone a restful weekend and I will be back with my EB WatchList Update report on Monday. At your service, John Hopkins EarningsBeats