EB Watch List Update Report

Dear Members: Market Update: On Friday I pegged 2763 on the S&P as a key level of resistance, one that the bulls would need to clear to take the market higher, with 2800 the next key level of resistance. So far the S&P has cleared that first hurdle with the bulls hoping to add on some points while the bears are quite aware this is a level where they need to work hard to stop the current momentum. In looking at the NASDAQ its worked its way back close to 7400, powered by the usual large cap tech stocks that have led the way for a long time. The bulls are pleased that bond yields have softened some with the 10 year treasury note now close to 2.84 after closing in on 3 last week, a level that seems to worry many analysts who think the market could pullback hard should that level get crossed. So for the moment the key level on the S&P remains right around 2763 and a close above that level should be seen as bullish. On the other hand, should the bears manage to hold the line here, it could indicate a near term top is in, especially should the S&P close below today's low of 2753. Below that we're looking at support near 2700. But the action for sure favors the bulls today as they eye that 2800 level which could prove to be a very big test. Companies reporting earnings Today (February 26) Before Market Opens BCC, DF and I After Market Closes: CKGX, FIT, HSII, HHC, NTRI, NUVA, PANW, SBAC, SNI and THC Companies reporting earnings tomorrow (February 27) Before Market Opens: AES, AZO, BMO, BNS, DISCA, EV, STAY, LL, M, MGLN, SERV and TOL After Market Closes: ALB, COKE,RRD, EVHC, ETSY, ESRX, HTZ, IMAX, LYV, NBR, PZZA, PHH, PCLN, SQ, SYX, VEEV and WTW ADDITIONS TO WATCH LIST Going to continue to be extremely picky here. At current market levels and key resistance on the S&P not far from key resistance not sure the reward to risk favors stocks. Love to get them much cheaper instead of chasing. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List SNAP - Stock is struggling right near its 20 day moving average at $17.36. As long as it holds the stock could set up for a move higher. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats