EB Watch List Update Report

Dear Members: Market Update: I've been pointing out lately that the market had gotten to stretched, especially the NASDAQ. We can see that traders paid attention to that today with all of the major indexes lower. The VIX took note as well as it is higher by almost 10% and back above its 200 day moving average; not a panic response by any means but at least reminding traders that stocks can actually fall, especially when the Dow is up 8 days in a row. The S&P got exactly to support at 2704 before bouncing. The bulls want that level to hold as a move below that level could result in a test of the 20 day moving average, currently at 2683. It's worth noting that the yield on the 10 year treasury bond is now at 3.06%, a level not reached since January of 2014. So we're going to see if traders are going to get spooked here or shrug it off, much like they have on many other occasions for a variety of reasons during this long bull run. In the meantime watch to see if that 2704 level holds. If not be prepared for some additional selling and some better buying opportunities. Companies reporting earnings Today (May 15) Before Market Opens: HD After Market Closes: SUNW Companies reporting earnings tomorrow (May 16) Before Market Opens: CSIQ, LEVB and M After Market Closes: ACXM, CSCO, JACK, NTES and TTWO ADDITIONS TO WATCH LIST We added FTR to the Watch List this morning with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List FTR - We added the stock to the Watch List this morning at an initial entry price of $9.30 with a second entry on any pullback to $8.85 with a price target of $11 and a stop loss of any INTRA DAY move below $8.70. Deletions from Watch List None At your service, John Hopkins EarningsBeats