EB Watch List Update Report

Dear Members: Market Update: The bulls were hoping to get the new trading day and week off to a good start and so far so good with all of the major indexes higher and over their respective 20 day moving averages. The VIX is down almost 4% as traders continue to show more confidence on the long side. This doesn't mean they are all in by any means but there's a lot less nervousness than we saw a few weeks back. This move higher comes right ahead of a slew of earnings reports coming out this week. In fact on the tech side Netflix will report its numbers after the bell today with traders watching closely to see how the market responds. The one thing that hasn't changed is the range on the S&P; it's smack in the middle between the 20 and 50 day moving averages, 2657 and 2687, respectively. Getting the S&P back over its 50 day would be a big deal for the bulls as it has not been above that level in a month. So a close above that level would likely put pressures on the shorts. Though we all know this well by now, it's more about the close than anything else; gains can evaporate quickly. So until the bulls are able to build strength for a few days into the close we could remain in the current, tight trading range. Companies reporting earnings Today (April 16) Before Market Opens: BAC and M&T After Market Closes: NFLX Companies reporting earnings tomorrow (April 17) Before Market Opens: CMA, GS, JNJ, NTRS, PGR and UNH After Market Closes: CSX, HBHC, IBM, ISRG, LCRX and UAL 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 is higher by almost 1%. A close back above the 200 day moving average of $57.89 would be bullish. SNAP - Stock is down by 2% after losing momentum. Still needs to close back above the 200 day, currently at $15.08, to get back on track. Mid Cap Watch List None Small Cap Watch List SGH - Stock closed just below $45 on Friday so stopped out and has been removed from the Watch List. Deletions from Watch List SGH At your service, John Hopkins EarningsBeats