EB Watch List Update Report

Dear Members: Market Update: On a day to day basis the market can be tricky to navigate. When traders wake up daily to surprises all bets are off with all of the major indexes lower just a few days after the bulls were looking to take the market even higher. The VIX is up over 12% as traders start to wonder if the bullish momentum of late is about to evaporate. So far the S&P remains above all key technical levels but not by much with the 20 day moving average just a few points away. Of course we've seen this script before; just as the bears feel they are in position to control the action the bulls hold the line exactly where they need to. In this case 2700 on the S&P is an important level as a close below this level could lead to a quick trip to the 50 day, currently at 2673. Bottom line at the moment is building cash still seems like a good idea. If the S&P does work its way down to the 50 day that could be a better time to look at long opportunities. And if we see a revisit to that 2742 level it might be an opportunity to look at shorting the weakest of the weak. Otherwise this whip saw action could continue to frustrate longs and shorts alike. Companies reporting earnings Today (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 Companies reporting earnings tomorrow (May 25) Before Market Opens: FL After Market Closes: None 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 moved below our Intra Day stop of $8.70 so is being removed from the Watch List. Though we were stopped out in the position it's worth pointing out that the stock moved lower by another 10% and emphasizing the important of honoring stops when a trade goes against us. Deletions from Watch List FTR At your service, John Hopkins EarningsBeats