EB Watch List Update Report

Dear Members: Market Update You have to continue to hand it to the bulls here. Just as it looked like the market might be ready for a decent pullback traders took advantage of lower prices on the NASDAQ and S&P with only the Dow lower on a very weak earnings report from MMM, down 11% on its numbers. On the flip side, Facebook and Microsoft exceeded expectations after the bell last night with MSFT now the largest market cap company in the world as it touched $1 trillion in value at its peak today. The selling we did see this morning came after the NASDAQ had reached an all time high as traders can't seem to get enough of tech stocks. And we'll get another glimpse tonight when Amazon and Intel report their earnings after the bell. It's likely to get more challenging for stocks to continue higher unabated, especially as more companies report their numbers and with both the NASDAQ and S&P already overbought coming into today's session. But anyone who has tried to short the market over the past few months knows it has been an exercise in futility. Still it really would be healthy for a decent pullback here; no one is predicting a crash but better entry points would be welcome. In the meantime the S&P touched 2936 the past two sessions, just shy of the all time high of 2940 which remains key resistance. To the downside the 20 day moving average is currently at 2889, the first key technical level of support. Companies reporting earnings today (April 25) Before Market Opens: MMM, ALXN, MO, BCS, BAX, BWA, BMY, CMCSA, DHI, GRA, HESS, HBAN, ITW, IP, LAZ, MMC, MAS, NOK, PAG, RTN, RS, ROK, ROP, SSTK, LUV, TSCO, UBS, UPS, VLO, VC, WM, WWE and XRX After Market Closes AFL, AMZN, BMRN, COF, CERN, COLM, CUBE, CY, DFS, F, GRUB, ILMN, INTC, JNPR, MAT, MHK, PFG, SFLY, SBUX, UHS and VRSN Companies reporting earnings tomorrow (April 26) Before Market Opens: , AAL, ADM, AN, CVX, CL, DDAIF, DB, XOM, GT, TREE, RBS, SNE AND WY After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted on any additional additions to the Watch List. Need to be very selective here with the market stretched as it approaches MAJOR resistance. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List PANW - Stock is fairly flat after moving higher in the session. Next key level of resistance remains just above $246 then $249. Mid Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats