EB Watch List Update Report

Dear Members: First, Tom Bowley will be joining me this afternoon to discuss how to combine Relative Strength (RSI) with our ChartLists to achieve powerful results. There's no need for you to register for this event that will begin at 4:30 pm eastern and you will receive room instructions prior to the start. In addition the session will be recorded for those unable to attend the live event. Market Update: The market refuses to go lower here. But at the same time the bears have put up a brick wall on the S&P just below 2817 with all of the major indexes higher as we begin a new trading day and week. For sure there's a strong bid underneath the market but we saw what happened when the S&P came within a fraction of October 17 high of 2816.94; profit taking kicked in. Why is that level so important? Because the next key level of resistance on the S&P is up near 2875, something the bears want no part of. And if the bulls want to power through here it's going to be with the market overbought making it a bit more challenging. The VIX is up slightly, not much to comment on there except it continues to show traders are mostly confident. It's still tough to reconcile that the S&P is up 20% since the late December low with no pullbacks that have held. Thus the difficulty in the market making much progress here. It really would be healthy to see some kind of decent correction; it might draw more buyers off the sidelines. At a minimum I would like to see a retest of the 200 day on the S&P, currently at 2750 which should provide support. But if the S&P can clear and close above that 2817 level you'll see the shorts step aside. Companies reporting earnings today (March 4) Before Market Opens: None After Market Closes CRM Companies reporting earnings tomorrow (March 5) Before Market Opens: , CIEN, KSS, , SINA and TGT After Market Closes: URBN ADDITIONS TO WATCH LIST Will keep you posted on any new additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List COLM - Stock is down slightly after moving higher earlier in the session. Would like to see it hold Friday's low of $103.75 and a close back above $105.12 would be bullish. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats