EB Watch List Update Report

Dear Members: Market Update: When looking at the overall market it's easy to see that the NASDAQ is very overbought while the Dow and S&P have lagged. So on the one hand there's room for blue chips and the 500 stocks in the S&P to move higher but since the NASDAQ has led the charge higher and is so stretched any pullback in that index is likely to take other stocks down for the ride as well as we've seen this morning. Prior to the selling this morning the NASDAQ was higher 8 days in a row; it was overdue for a pullback. Remember also that stochastics on the NASDAQ are in the upper 90's with a RSI not far off of 70, confirming how overbought tech stocks are. The S&P climbed back above 2800 briefly before falling back when the NASDAQ moved lower. Even though we've seen a reversal in the market today the VIX is fairly flat, a sign that traders aren't as worried as they have been lately. Instead we could be looking at buying on the dip rather than pulling everything out of the market. Since the NASDAQ is steering the course here we should focus on key support which is currently at 7469. But with buying interest so high it might find relief closer to 7500. But the bulls are back to showing a lot of resilience so it wouldn't be shocking to see some bargain hunting as the day progresses. In any case it makes sense to stay focused on those stocks that have the highest reward to risk potential while keeping tight stops just in case the selling gets deeper. Companies reporting earnings Today (March 13) Before Market Opens DKS After Market Closes: None Companies reporting earnings tomorrow (March 14) Before Market Opens: ICON, SIG and VRA After Market Closes: SMRT, TLRD, TDW and WSM ADDITIONS TO WATCH LIST AS A REMINDER: THE CANDIDATE TRACKER HAS NOW BEEN UPDATED AND THERE ARE 250 STOCKS ON THE LIST. For those of you who have been getting the ChartList - If you have NOT received the updated one this morning please let us know. 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 None. Deletions from Watch List None At your service, John Hopkins EarningsBeats