EB Watch List Update Report

Dear Members: Market Update: The heavy selling is welcomed by the bears with yesterday's gains now gone and with traders asking once again if a near term top might be in. The VIX is higher by 17% as it clears both its 20 and 50 day moving averages with the 200 day in sight. So just a day after traders were cheering the Fed's decision to declare no rate hikes for the remainder of the year they're now happy to book profits and move to the sidelines. So far the S&P has tested and held support near the 2817 level, the same level that was so tough to crack on the way up. The NASDAQ is leading the move lower just like it did higher. And the Dow is back below its 20 day moving average as traders shy away from blue chip stocks. We've see this type of action a few times since the market began its rise off of the late December bottom and each time stocks managed to recover. So traders may simply see this as one more opportunity to buy on a nice dip. What could change the narrative? Continuing selling into the close. If the bears can manage to move the S&P back below that 2817 level then 2800 would come next. To the upside yesterday's high of 2860 is now resistance. Companies reporting earnings today (March 22) Before Market Opens: TIF After Market Closes None Companies reporting earnings Monday (March 23) Before Market Opens: , None After Market Closes: RHT ADDITIONS TO WATCH LIST We 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 None Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats