EB Watch List Update Report

Dear Members: Market Update: The bulls are not being deterred by today's much weaker than expected ADP jobs report with all of the major indexes hitting new near term highs. In other words, there's no such thing as bad news at the moment. The NASDAQ in particular is leading the move higher as traders opt for high risk over safety. Both the NASDAQ and S&P are now technically overbought, again not seeming like much of an issue to the bulls. The S&P cleared one hurdle as it works its way closer to the 2900 level. Something that may or may not turn out to be relevant is the VIX which has steadied with the recent move higher. In fact it hit a low of 12.37 on March 19 and now with the market at new near term highs it so far has put in a higher low and is flat for the day, maybe a minor sign that the market has gotten ahead of itself. But for now that 2900 level looks very possible and short of a reversal to the downside the bulls look determined to get there. And though the non-farm payroll report coming out on Friday might normally be a possible game changer it might not matter if it's hot, weak or neutral; the bulls will likely put a positive spin on the results no matter what and until we see a shift in the momentum there's no use fighting the tape. Companies reporting earnings today (April 3) Before Market Opens: AYI After Market Closes PLAY Companies reporting earnings tomorrow (April 4) Before Market Opens: , STZ After Market Closes: None 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 None Mid Cap Watch List LEG - Once again the stock attempted and failed to clear key technical levels in spite of solid market action. Accordingly, we are going to REMOVE the stock from the Watch List at the current price (as of this email) of $42.61. If you continue to hold you might want to consider raising your stop loss. In addition if it can close above its 50 day moving average, currently at $42.97, that would be bullish. Small Cap Watch List None Deletions from Watch List LEG At your service, John Hopkins EarningsBeats