EB Watch List Update Report

John Hopkins - November 28, 2018

Dear Members: The bulls are having some success the past few sessions and after the most recent bottom with all of the major indexes higher. There's still plenty of work to be done to get the market in better shape but you have to start somewhere. Interestingly the VIX is flat even with the market higher; perhaps traders are still wondering if today's gains can actually hold into the close. The bulls still have the problem of operating behind the eight ball; none of the major indexes has been able to recapture any key technical level which must occur for the market to have any chance of moving higher. The bulls will argue that they got one step closer to that today with the S&P getting within 10 points of its 20 day and that's true. But traders want actual proof that the worst of the selling is over and so far that is not the case. Right now the S&P remains almost 8.5% off of its all time high and is now 3% higher than the recent low. So there's plenty of room to the upside if traders decide in unison to get more aggressive on the long side. But right now the bears are calling the shots, and until that changes we'll continue to err on the side of caution. Companies reporting earnings today (November 28) Before Market Opens: CHS, DKS, JILL, SINA, SJM and TIF After Market Closes GES, LZB, SMTC and VEEV Companies reporting earnings tomorrow (November 29) Before Market Opens: ANF, DLTR, EXPR and TD After Market Closes: AVAV, DVMT, HPQ, PANW, PVH, SPLK, VMW and WDAY ADDITIONS TO WATCH We sent out an alert on SCVL if it pulls back to $35.30 at which point it will be added to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List AJRD - Stock is higher by almost 2% today as it rises back above its 50 day moving average. The next key level of resistance will be the 20 day, currently at $34.48, and a close above that level would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats