EB Watch List Update Report

Dear Members: Market Update: Given the recent volatility in the market, nothing about today's action is surprising. Already today, the Dow tested its 50 day moving average to the upside and the 20 day moving average to the downside. Both the NASDAQ and S&P tested their respective 20 day moving averages when selling kicked in and so far have held. This morning we saw earnings reports from 4 major banks with all of them moving lower even though numbers were just fine. So not what the bulls had hoped for but a very small sample with traders deciding to take profits as earnings season is about to kick into high gear. One other thing to point out is the VIX is down by over 4% even with stocks under pressure. This shows nerves have calmed some ahead of the earnings onslaught which should be seen as a positive. The current range on the S&P puts it squarely in between the 20 day to the downside and 50 day to the upside, so 2655 to 2690. As usual the close is what matters so we'll see what traders are thinking later today as we head into the weekend. Companies reporting earnings Today (April 13) Before Market Opens: C, INFY, JPM, PNC and WFC After Market Closes: None Companies reporting earnings Monday (April 16) Before Market Opens: BAC and M&T After Market Closes: NFLX ADDITIONS TO WATCH LIST Will keep you posted if are any additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List LEN - Stock pulled back early in the session but held where it needed to. A close back above the 200 day moving average of $57.86 would be bullish. SNAP - Stock did a round trip from initial entry and after making a strong move move higher yesterday so there's plenty of work to be done here. Really needs to close back above the 200 day, currently at $15.09, to get back on track. Mid Cap Watch List None Small Cap Watch List SGH - Stock made a nice move early in the session only to give it all up when the market turned negative. As a reminder we changed the stop to any CLOSE below $45. To the upside, a move back to $46.83, today's high would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats