Editor's Note:

Stocks have bounced, alleviating some of the oversold pressures. The question now is will the bounce continue or will the correction lower resume? There are a lot of high-anxiety events on the calendar this summer. We know bull markets like to climb the wall of worry but this wall is looking pretty dangerous.

Given my very cautious outlook for the market right now we are not adding any new trades tonight. I've updated the watch list with both a bullish and bearish candidate.

Here is a list of stocks currently on my radar screen as potential candidates to keep an eye on:

DPS, MO, AMRN, EIX, WMT, BBBY, DFS, YUM, S, DIS,