EB Watch List Update Report

Dear Members: Market Update: Tomorrow is options expiration Friday with the market showing some volatility with all of the major indexes green after being lower earlier in the session. Not much has changed since yesterday. The bulls did their job the past two days as the S&P held right where it needed to; not a great bounce but the S&P remains above all key technical levels. Actually even though we've seen some volatility the past few sessions the VIX is down by over 3% today with the bulls liking it much better in the 12's than 25 where it was just over a month ago. We're at one of those periods where traders are looking for any sliver of data or information to help make trading decisions. Earnings season is pretty much over, there's no Fed meeting for a while and traders are getting used to the notion that rates are going higher. So, as usual, charts come in very handy, showing that the bulls are doing just enough to keep the market from tanking while the bears know the market is much lower than it was a few months back as they bide their time. Currently the range on the S&P is 2700 to the downside and 2742 to the downside. Whichever one of those goes first could determine the near term direction of the market. Companies reporting earnings Today (May 17) Before Market Opens: JCP and WMT After Market Closes: AMAT, JWN and TARO Companies reporting earnings tomorrow (May 18) Before Market Opens: AZN, CPB and DE After Market Closes: None ADDITIONS TO WATCH LIST We added ALV to the Short Watch List this morning with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: ALV - We added ALV to the short Watch List this morning with an initial entry price of $146.51 with a price target to the downside of $137.75 and a cover price of any INTRA DAY move above $147.20. LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List FTR - Stock is up slightly and close above $9.52 would be very bullish. FIVN - Stock is higher by 1.3%. A close above $30.97 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats