EB Watch List Update Report

Dear Members: Market Update: Yesterday the bulls were tasked with holding the line at 2704 on the S&P. It did dip below that level at one point in the session before bouncing and closing above that level, giving the bulls another day to try to get things back on track. This morning the S&P is higher but not by much as traders continue to wonder what higher yields might mean to stocks. Still, the S&P is on the north side of all key technical levels giving the bulls the very slight near term edge. To put things in perspective here note that the S&P is at the same level it was in early February. It shows you that neither the bulls nor the bears have made any progress though one could argue that the bears have more of a grip than might be imagined, keeping the S&P well below its all time high while struggling to make any progress. The S&P got as low as 2701 yesterday so that is the new level they need to hold because if that goes there's a strong possibility there will be a retest of the 20 day moving average, currently at 2686. To the upside, 2742, the most recent high, is now key resistance. Companies reporting earnings Today (May 16) Before Market Opens: CSIQ, LEVB and M After Market Closes: ACXM, CSCO, JACK, NTES and TTWO Companies reporting earnings tomorrow (May 17) Before Market Opens: JCP and WMT After Market Closes: AMAT, JWN and TARO ADDITIONS TO WATCH LIST Will keep you posted if any new alerts BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List FTR - Stock is higher by 1.4%. A close above $9.51 would be very bullish. FIVN - Stock is flat as it trades between its 20 and 50 day moving averages. A close above $30.25 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats