EB Watch List Update Report

Dear Members: Market Update: Tax day has come and gone and earnings season is getting ready to kick into high gear with the bulls showing continued confidence with all the major indexes making fresh near term highs. The NASDAQ cracked 8,000 for the first time since October 3, 2018 while the S&P continues to work its way closer to its all time high. Earnings season can be both rewarding as well as costly, witness UNH reporting its numbers prior to the open this morning, spiking higher and then falling 7% from the peak and now moving to fresh lows. But JNJ is being rewarded, up over 2% on its numbers. Then after the bell today we'll hear from IBM and Netflix, two highly visible tech stocks that could set the tone for that sector. We're going to see all kinds of reactions over the next several weeks which always makes it risky to hold stocks into their earnings reports. It's still going to take some work for the S&P to get back to that all time high of 2940, especially since it is already overbought along with the NASDAQ. It's certainly gotten more risky to take on new positions, especially as the major indexes get closer to those all time highs. But momentum is very strong here with a new bar at 2916 on the S&P and a close above that level sets the stage for a visit to that 2940 level. Companies reporting earnings today (April 16) Before Market Opens: BAC, BLK, CMA, JNJ, PRG and UNH After Market Closes CSX, IBM, NFLX and UAL Companies reporting earnings tomorrow (April 17) Before Market Opens: , ABT, BK, ERIC, KSU, MS, PEP, TXT and USB After Market Closes: AA, ETFC, KMI, LVS, SLM and URI ADDITIONS TO WATCH LIST Will keep you posted on any additional additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List PANW - Stock is fairly flat after its nice move lately and a close above $250.26 would be bullish. Mid Cap Watch List None Small Cap Watch List DOMO - Stock is higher by 2.5% and a close above $39.70 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats