EB Watch List Update Report

Dear Members: Market Update: The extreme volatility that we've come to know of late continues today with blue chips under fire while tech stocks try to hold yesterday's gains. The S&P is showing weakness today as well as it moved right back below its 20 day moving average a day after the bulls were hoping they were in the clear. For the bulls, earnings season cannot come fast enough, and they will get their wish come Friday when some major banks post their numbers. Then for the next several weeks there will be earnings galore as thousands of companies report their quarterly results. One thing that has remained consistent these past few weeks; the picture at the beginning of and during the day can look completely different by the time the market closes. Heavy losses or gains can evaporate, sometimes in a matter of minutes. This, of course, makes trading successfully even more challenging. I do think it is possible that we could see more stability once a large enough number of companies do post their earnings. After all, there's nothing more soothing to investors than solid numbers. For now the S&P remains in the range between the 200 day at 2596 to the downside and the 20 day at 2655 to the upside which is a 60 point spread. In some ways it's less relevant than usual at the moment but at least provides some guideposts to keep an eye on. Companies reporting earnings Today (April 11) Before Market Opens: FAST After Market Closes: BBBY Companies reporting earnings tomorrow (April 12) Before Market Opens: BLK, DAL, RAD After Market Closes: None ADDITIONS TO WATCH LIST We added SNAP to the Watch List yesterday with additional information below During Monday's webinar, Tom Bowley of StockCharts.com covered 16 individual stocks that could be poised to make a move higher into their respective earnings reports. The ones that will be reporting over the next few weeks include the following: Cat - 4-24 MMM - 4-24 VAR - 4-25 TWTR - 4-25 IPG - 4-27 The remaining stocks won't report until May but will keep you posted as earnings dates gets closer. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List SNAP - We added this stock to the Watch List yesterday with an initial entry price of $14.28 with a second entry on a pullback to $13.80 and with a price target of $15.70 and a stop of any INTRA DAY move below $13.60. Today the stock is higher by 3% and a close above the 200 day moving average, currently at $15.12, would be bullish SQ - Stock is higher by another 1.5%. The 20 day moving average is currently at $49.13. Our current price target is $49.50. Will keep an eye on but don't hesitate to take some profits off the table if the $49 level is cleared as the reward to risk will start to shift to the downside. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats