EB Watch List Update Report

Dear Members: Market Update: In yesterday's Market Update I mentioned that the bulls could benefit if the S&P moved back above its 50 day moving average, something that hasn't happened in a month. They got that this morning and in fact all of the major indexes are back above key technical levels. This is coming with the VIX down another 6% as nerves continue to be soothed. Part of the enthusiasm today comes from a very strong earnings report from Netflix with the stock challenging its all time high as it helps to lift the NASDAQ. On the other hand, both Goldman Sachs and Johnson and Johnson are down after reporting their earnings, yet the Dow is having a very solid day. The earning parade is just getting started and tonight we'll hear from CSX, IBM, LRCX and UAL., some highly visible and important companies with the bulls hoping to keep the momentum going. Now that the S&P has cleared the 50 day the next level of resistance is near 2710. It got close to that level earlier in the session before pulling back some. If it can clear that 2710 level then 2740 would be next. To the downside the 50 day, currently at 2685, is now support. Companies reporting earnings Today (April 17) Before Market Opens: CMA, GS, JNJ, NTRS, PGR and UNH After Market Closes: CSX, HBHC, IBM, ISRG, LCRX and UAL Companies reporting earnings tomorrow (April 18) Before Market Opens: ABT, MTG, MS, TXT and USB After Market Closes: AA, AXP, PIR and STLD, ADDITIONS TO WATCH LIST Will keep you posted if are any additions to the Watch List. Wouldn't mind seeing some pullback before adding 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 1% after challenging its 200 day moving average earlier in the session. A close above that level, currently at $57.91, would be bullish. SNAP - Stock is higher by almost 1%. Still needs to close back above the 200 day, currently at $15.06, to get back on track. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats