EB Watch List Update Report

Dear Members: Market Update: If you want an example of being trapped in a range just look at this morning when the brakes were slammed on the bulls just as the NASDAQ touched its 20 day moving average. This doesn't mean the market can't go higher; it just means that it's not going anywhere unless the bulls can clear the 20 day, currently at 7378. Perhaps a bit of decent news for the bulls with the VIX lower and well off recent highs so not as much nervousness out there today. The Fed is on tap to announce its rate decision at 2 PM eastern today with the market ready for a .25 raise. As usual the key will be what the Fed says about the future - i.e., how many more rate increases might they be thinking about. We need to keep in mind that both the Dow and S&P are technically wounded, so two of the three major indexes floundering which doesn't exactly have traders doing cartwheels and in fact is keeping many of them on the sidelines. So what's a trader to do? Right now it makes most sense to err on the side of caution. Just like it was all systems go for many months during 2017 now it's a good time to be more defensive. Maybe the mood will brighten after the Fed is out of the way, but the opposite could happen as well. Companies reporting earnings Today (March 21) Before Market Opens: GIS and WGO After Market Closes: FIVE, GES and MLHR Companies reporting earnings tomorrow (March 22) Before Market Opens: ACN, CCL, CAG, DRI, LE and MIK After Market Closes: KBH, MU and NKE ADDITIONS TO WATCH LIST Will keep you posted if any new 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 CHS - Stock is higher by almost 1% and a close above of $8.95 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats