EB Watch List Update Report

Dear Members: Market Update: The bulls are pleased to see some follow through buying today with all of the major indexes higher. Certainly investor confidence has been bolstered as all of the major indexes closed back above all key technical levels giving the bulls something to work with. To show the strength of the market at the moment just look at IBM, with the stock lower by over 7% after disappointing earnings after the bell last night. In other words, in spite of Big Blue's miss the market is carrying on, focusing more on what's right at the moment. It is evident that traders have been waiting for earnings season to unfold and to put aside some of the continuous noise they were hearing leading up to this point in time. Though earnings results have so far been mixed the market feels strongly that as more reports are released it will confirm the belief that overall they will be very solid. Thus traders are willing to take some risk here that they will be rewarded in the near term. I have noticed that the VIX is higher today; it actually got a bit too complacent too quickly. But overall it is showing much less worry than a few weeks back. Right now it looks like the next key level of resistance on the S&P will be up near 2740. To the downside there should be decent support near the 50 day moving average, currently at 2687. Companies reporting earnings Today (April 18) Before Market Opens: ABT, MTG, MS, TXT and USB After Market Closes: AA, AXP, PIR and STLD, Companies reporting earnings tomorrow (April 19) Before Market Opens: BK, BBT, BX, DHR, GWW, KEY, NVS, NUE, NVR, PM, PPG, DGX, SNA, and TSM After Market Closes: ETFC and SKX ADDITIONS TO WATCH LIST Will keep you posted if are any additions to the Watch List. I think there are going to be some great opportunities as more companies report earnings over the next few weeks and that patience will be rewarded. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List LEN - Stock is higher by another 1% and currently has moved back above its 200 day moving average. A close above that level, currently at $57.93, would be bullish. SNAP - Stock is lower by almost 1.5% as it has moved into consolidation mode. A close back above the 20 day moving average, currently at $15.19, would be very bullish. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats