EB Watch List Update Report

Dear Members: Market Update: The little bit of selling we saw yesterday didn't set well with the bulls with all of the major indexes trying to get back what was lost yesterday. Though the market is higher you can see that the S&P continues to get some push back near that 2800 level and ditto on the Dow near 26,000. In fact all of the major indexes are where they were before the big dump started back in early December so now over two months with no advancement. Interestingly you have to go back to early October to see the VIX as low as it is right now before it moved back above its 200 day moving average and stayed at more elevated levels for four months. Also interesting; earnings season is winding down, the overall response has been mostly positive yet the market has stalled and in spite of the Fed moving to the sidelines and most traders expecting some type of trade deal with China. So even though the major indexes have gotten back what they lost from the December swoosh lower the bulls are having a tough time moving them higher, even with the VIX showing little fear. This makes 2800 on the S&P an important level to clear as that could provide some additional enthusiasm and put the shorts in a corner. But the longer it continues to stall here the greater the case the bears can make that a top is in, that a pullback is necessary before new capital will be put to work. Right now we're looking at a range on the S&P of 2800 to the upside and 2747, the 200 day, to the downside. These are the levels to watch in trying to figure out the near term direction of the market. Companies reporting earnings today (February 22) Before Market Opens: AN, ITT, TDS, USM and W After Market Closes None Companies reporting earnings Monday (February 25) Before Market Opens: , None After Market Closes: ETSY, HTZ and MOS ADDITIONS TO WATCH LIST Will let you know if there are any additional trade alerts. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats