EB Watch List Update Report

Dear Members: Market Update: That 2742 level on the S&P proved to be too much for the bulls to clear yesterday and today we're seeing all of the major indexes lower. The selling has caught the attention of traders with the VIX up almost 7% as it rises above its 200 day moving average and at one point earlier in the session rose above its 20 day as well. In other words, nervousness has increased. While all of the major indexes are under pressure today they remain above all key technical levels; the bears have not yet wrestled control from the bulls. But a move below 2700 on the S&P could lead to more selling and at least give the bears some technical advantage. Later today at 2 pm eastern we'll get the FOMC minutes, an update from the last meeting, with traders watching for any nugget of fresh news that could impact the market. In the meantime the market seems to have a lid on it for the moment with some support right at 2700; it's not a bad time to keep some cash handy in case the selling deepens. Companies reporting earnings Today (May 23) Before Market Opens: LOW, RL, TGT and TIF After Market Closes: LB, NTAP, SMRT, SNPS, UVV and WSM Companies reporting earnings tomorrow (May 24) Before Market Opens: BBY, HRL, MCK, MDT, RY, TTC and TD After Market Closes: EGHT, ADSK, DECK, GPS, LGF.A, ROST, SCVL, SPLK and VEEV ADDITIONS TO WATCH LIST Will keep you posted if there are 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 giving back recent gains, down over 5%. It hit our second entry level of $8.85 earlier in the session. As a reminder our stop is any INTRA DAY move below $8.70 and if the stock is to get back on track it needs to close back above its 20 day moving average, currently at $9.24. Deletions from Watch List None At your service, John Hopkins EarningsBeats