EB Watch List Update Report

Dear Members: Market Update: The bears are out in full force today as the trading month of April begins. Nothing is being spared though the NASDAQ is leading the move lower, down almost 3%, as the tech correction continues. A few things worth noting. First, the S&P has now dipped below its 200 day moving average. Next, the NASDAQ has put in its lowest low since February 12. The VIX is higher by almost 17% as fear increases but still well below the recent high. The question now becomes; have the bears inflicted enough pain for the market to steady and turn here? For sure holding the 200 day, currently at 2589, is job one for the bulls since it has not closed below that level since June, 2016. So if the bulls are going to take a stand, this is where it needs to be as the next key level of support is down near 2532 the February 9 low. It should be noted that the NASDAQ is now technically oversold though we know that it could move lower. Still, it is one thing that favors the bulls. Bottom line: If the S&P can close back above its 200 day that would be a positive. And if if continues to move lower we'll just find even better trades. Companies reporting earnings Today (April 2) Before Market Opens: NONE After Market Closes: NONE Companies reporting earnings tomorrow (April 3) Before Market Opens: NONE After Market Closes: PLAY ADDITIONS TO WATCH LIST We added IGT to the Watch List today with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List None Mid Cap Watch List IGT - We added this stock to the Watch list this morning at an entry price of $26.17 with a price target of $29.35 and a stop of any INTRA DAY move below $25.77. Small Cap Watch List CHS - Stock made a nice move earlier on before being turned back at the 50 day once again. It really needs to close above that level, currently at $9.23 if it hopes to make further progress. Also as a reminder our stop is any close below the 20 day, currently at $8.96 and if it closes below that level it will be removed from the Watch List. Deletions from Watch List None At your service, John Hopkins EarningsBeats