EB Watch List Update Report

Dear Members: MARKET UPDATE Monday's can sometimes be rough on traders but not today. Instead, stocks are holding up well as we begin a new trading day and week. The Dow actually hit a new all time high before pulling back some; it really is very overbought so a pullback would be welcome. For a change the NASDAQ is showing some strength today. It did manage to hold its 20 day moving average seven days in a row; pretty impressive, especially given August's reputation for being rough on traders. The VIX continues to show an optimistic trader; bothers me a bit but it's harder for the market to go down when traders are showing confidence. Though the NASDAQ is showing strength today the bulls have more work to do if they plan to take in higher. Just recently the NASDAQ stalled just below 6400 which is a level that needs to be cleared to make any further progress to the upside. The S&P continues to do what its done for the past two weeks; consolidate. The bears will argue that this does not bode well for the market but the bulls will point to the fact that the S&P remains above all key technical levels, perhaps waiting for the next catalyst to take it higher. It's been close to impossible to short this market with any success. It's also been tough to add to gains with the NASDAQ and S&P stalling. However, at this moment there's no denying the fact that all of the major indexes do remain above all key technical levels so the edge has to be given to the bulls until something changes. KEY EARNINGS REPORTS Companies reporting earnings today (August 7) include: Before Market Opens: BAH, FDX, ON and TSN After Market Closes: CAR, RATE, CBS, HHC, LQ, LC, MAR and THC Companies reporting earnings tomorrow (AUgust 8) include: Before Market Opens: AES, LNG, CVS, DF, DISCA, EXPD, IEP, IHG, KORS, NCLH, RL, TIME, VRX and W After Market Closes: DIS, GDDY, HTZ, MBI, PHH, PCLN, PRI, SUN, TARO, TSRO, TRIP and ZG ADDITIONS TO WATCH LISTS: We added SYNT to our Watch List this morning with more details below Also, please note that we will be adding over 100 stocks to the Candidate Tracker between today and tomorrow 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 sown slightly but so far is holding 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 SYNT - We added this stock to our Watch List at an initial entry price of $18.71 with a price target fo $19.90 and a stop of any close below its 20 day moving average, currently at $18.48. DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats