EB Watch List Update Report

John Hopkins - March 26, 2018

Dear Members: As a remeinder, I wanted to let everyone know that I will be traveling this week. I will do my best to get a Market Update out every day but there could be a slight modification to the normal schedule. Market Update: Just like the market got overbought earlier in the year it got oversold last week with all of the major indexes up nicely as we begin a new trading day and week. If you're skeptical about whether or not technical analysis remains an important discipline look no further than Friday when the S&P got as low as 2585 which happened to be exactly the same as the 200 day moving average which held right on cue. So it was almost inevitable that the market was due for some relief which is what we are getting today. Before the bulls get too excited they will need to keep an eye on the VIX which is down almost 10% today but still above all key technical levels and still favors the bears. The bulls have a lot of repair work to do if they hope to regain the upper hand. This would start with getting the S&P back above its 20 day moving average, some 80 points higher. To the downside that 200 day remains critical support as another move down and below that level would spell more trouble. We'll want to see if today's gains hold which would at least be some progress. In the meantime no reason to do cartwheels quite yet. Companies reporting earnings Today (March 26) Before Market Opens: PAYX After Market Closes: RHT Companies reporting earnings tomorrow (March 27) Before Market Opens: MKC After Market Closes: LULU, RH, SCVL and SONC ADDITIONS TO WATCH LIST Will let you know if there are any additions to the Watch List 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 1.3%. The next big hurdle will be at the 50 day moving average, currently at $9.27 and a close above that level would be very bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats