EB Watch List Update Report

Dear Members: First, I will be conducting a webinar this afternoon at 4:30 pm eastern on finding High Reward to Risk Trading Candidates. I will be joined by StockCharts.com's Senior Technical Analyst Tom Bowley. During this event we will be discussing EarningsBeats performance over the past year. Good stuff! All members are invited to attend and we will be sending room instructions prior to the event and the webinar will be recorded for those unable to attend the live session. Market Update: For quite a while now many analysts have made noise about the possible negative impact if the 10 Year Treasury Note hit 3%. Well, today it got to 2.983, pretty close, yet the market seems to be taking it in stride with all of the major indexes higher as we begin a new trading day and week. Perhaps this is one of those cases where the market has been contemplating rising rates long enough that this is no longer a surprise. Or, perhaps traders are thinking this is where the yield might peak; the 10 year is technically overbought here. So far the VIX is lower for the day though still well above the levels we saw throughout 2017 when nothing spooked the market. So volatility continues to keep traders on their toes. This week includes earnings reports from some high visible companies including Google after the bell tonight and as the week continues Caterpillar, Facebook and Twitter just to name a few. So far today all of the major indexes have tested and held their respective 20 day moving averages. But it continues to be a struggle. The S&P got as high as 2717 last week so that is now key resistance. To the downside the bulls know they need to hold the 20 day, currently at 2670, because if that goes we're likely to see more selling. Bottom line is the market remains vulnerable here; it's not a time to be going all in on the long side. Instead it's one of those times to take profits anytime they come along and keep stops in place in case a trade goes against you. Companies reporting earnings Today (April 23) Before Market Opens: ALK, BOH, HAL, HAS, KMB and TCF After Market Closes: GOOGL, GOOG, AMP, ABX, CR, HSII, HLX, OI, SLM, AMTD, WHR and ZION Companies reporting earnings tomorrow (April 24) Before Market Opens: MMM, BIIB, CAT, CIT, KO, GLW, FITB, FCX, HOG, HUBB, HBAN, JBLU, LLY, LMT, MAS, MBFI, MDR, PCAR, PII, PHM, R, SAP, SHW, SNV, TRV, UTX, VZ and VLVLY After Market Closes: BXP, COF, CSL, CB, CREE, DLB, ILMN, IRBT, LRN, NAVI, RHI, SIX, TER, TXN, UMBF, UVE and WYNN ADDITIONS TO WATCH LIST Will keep you posted if are any new additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List SNAP - Stock got within 1% of the price target of $15.70 this morning so we issued a profit alert at $15.55 so it will be removed from the Watch List. GREAT TRADE! MU - Stock hit our second entry level of $50.10 before moving below the stop of an Intra Day move below $49.50 so is coming off the Watch List. Mid Cap Watch List None Small Cap Watch List SGH - Stock is lower by 1.5% but well off the low of the session. As a reminder we have a stop loss of any CLOSE below the 50 day moving average, currently at $40.99. In the meantime, a close back above $41.81 would be bullish. Deletions from Watch List MU and SNAP At your service, John Hopkins EarningsBeats