EB Watch List Update Report

Dear Members: Market Update: In yesterday's Market Update I pointed to Facebook reporting its earnings after the bell and that the response to their earnings could help determine the near direction of the market. Voila! Let's face it, FB has been in the headlines a long time now, all of them negative. So its blowout earnings after the bell last night put some worries to rest with the stock higher by 8% and taking the market along for the ride. The slew of earnings continues tonight with some other heavyweights reporting their numbers including Amazon, and Microsoft to name a few. Just like FB, the response to Amazon's numbers could move the market - i.e., extend today's rally or slow things down. The VIX is down by 4% but in no way showing the market is out of the woods. Instead it's at a level that indicates things could turn around quickly; we've seen how many times the bulls have had a hard time holding on to gains. But there has been an awful lot of negativity lately so when we start to see the market actually responding positively to earnings that is a plus. Currently the 20 day moving average on the S&P is at 2663. So far it's come up just short of that level but closing above would at least give the bulls something to work with. Bottom line: the move higher today is welcome by the bulls but so far the bears remain in control. A strong finish plus a strong response to AMZN's and MSFT's earnings could result in some additional buying. However traders have been in a sell on any rally mode so until that changes we'll need to err on the side of caution. Companies reporting earnings Today (April 26) Before Market Opens: ALLY, MO, AAL, ARCH, AVT, BAX, BLMN, BWA, BMY, BC, CME, COP, DHI, DLX, DB, DPZ, DNKN, FCAU, GM, GNC, GWB, HELE, HP, HSY, HLT, ITW, IP, KBR, LAZ, LEA, TREE, MGLN, MMC, MGM, NEM, NLSN, NOK, NS, OSK, PH, PEP, PDS, RDN, RTN, RS, RCL, RDS.A, SSTK, LUV, SPB, SAVE, TWX, TSCO, UNP, UPS, VLP and VC After Market Closes: AMZN, AMKR, ATHN, BIDU, BYD, CUBE, CY, DFS, EXAS, EXPE, STAY, FICO, FSLR, FLEX, FORR, FBHS, HIG, INTC, KLAC, KN, LSCC, MAT, MXIM, MSFT, MHK, NUS, PFG, SKYW, SBUX, SYK, X, VRSN and WDC Companies reporting earnings Tomorrow (April 27) Before Market Opens: B, CHTR, CVX, CVEO, CL, D, XOM, HMC, MCO, PSX, PJC, COL, RBS, SPG, SNE, TEN and WY After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any new trade alerts. Also, we will be updating the Candidate Tracker very soon and will keep you posted. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None at this time LONGS: Large Cap Watch List SQ - Stock is higher by 4.5% and a close above $47.03 would be bullish. SNAP - Stock is higher by almost 4% and a close back above the 20 day moving average, currently at $15.17 would be very bullish. None Mid Cap Watch List None Small Cap Watch List Deletions from Watch List None At your service, John Hopkins EarningsBeats