EB Watch List Update Report

Dear Members: Market Update: The bulls are out in full force this morning - or are they? Yes, all of the major indexes are up nicely as the market cheers a strong jobs report with little signs of wage inflation. This has resulted in the NASDAQ reaching a new all time high, and this is where I have to wonder why the Dow and S&P are lagging so badly? For example, the S&P is over 100 points off of its all time high with the Dow lower by over 1000 points. So how can this be explained? As has been the case lately we still have a handful of tech stocks that are helping to lead the charge higher. The S&P is now back above all key technical levels which is also a plus. But where the NASDAQ is flying high, the S&P is having trouble getting to its most recent highs. Ditto the Dow which still remains below its 50 day moving average. The VIX is lower by 7% which is also a positive for the bulls. But it's still over 15, not yet flashing an all clear signal. But the bulls are happy to take what they can get here and it is possible the NASDAQ might ultimately drag the other major indexes along for the ride. One other thing worth noting is the NASDAQ is closing in on being technically overbought but it could continue to move higher if the momentum picks up as the day progresses. Bottom line is we need to respect the action here while realizing that it would be much healthier if all of the major indexes were trading in unison rather than the NASDAQ single handedely stealing the show. In the meantime the next level of resistance on the S&P is 2789 while support is near 2740. Companies reporting earnings Today (March 9) Before Market Opens BIG, PRTY and REV After Market Closes: None Companies reporting earnings Monday (March 12) Before Market Opens: None After Market Closes: FTEK ADDITIONS TO WATCH LIST First, please note that we are updating the Candidate Tracker, removing some stocks and adding some new ones and when done will go from 183 to 251 stocks so some new potential trading candidates for members. Will let you know when is available. Will keep you posted on any new trade alerts. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List INVA - Stock is currently up 1.7% but we removed this morning as it looked like it was stalling and possibly reversing. For those continuing to hold you should consider raising your stop with the next level of resistance at $16.70. Deletions from Watch List INVA At your service, John Hopkins EarningsBeats