EB Watch List Update Report

Dear Members: Market Update It's a new trading day and week and the bulls are picking up right where they left off with all of the major indexes higher. We've now got new record highs on both the NASDAQ and S&P with only the Dow lagging. And yes both the NASDAQ and S&P are overbought but that doesn't seem to be an issue at the moment. The earnings parade will continue in full force this week starting with Google reporting its earnings after the bell tonight and then Apple reporting after the bell tomorrow night. Toss in the April jobs report coming out Friday and this could turn out to be an interesting week. Historically we're in a positive time of the year, witness the strength in the market as April nears an end. In looking at risk possibilities here, a big earnings miss by GOOG or AAPL might put a damper on the buying. But traders have been putting more emphasis on good news these days rather than focusing on any negative developments. Now that the NASDAQ and S&P have hit record highs what might come next? It's always a good question when new records are set as there's no history to guide. Perhaps 2950 will serve as the next level of resistance and if that is cleared the bulls will set their sites on 3000 but this surmises the market will continue its march higher. Should traders get into a profit taking mood there should be support near 2900 which is close to the 20 day moving average. Companies reporting earnings today (April 29) Before Market Opens: CNA, DO, KMPR, L, ON and SPOT After Market Closes AKS, GOOGL, GOOG, CLR, CR, MGM, SBAC, THC, RIG, WDC AND YUMC Companies reporting earnings tomorrow (April 30) Before Market Opens: BHGE, BP, CHTR, COP, GLW, CMI, ETN, FDC, GM, GE, HCA, IR,KKR, LLY, MLM, MA, MCD, MRK, MGP, NLSN, PFE, PSX, STX, SHOP, SPG, AOS, TNC, WH and ZBRA After Market Closes: AMD. AKAM, AMGN, AAPL, BXP, CHRW, CB, DVN, EIX, EXAS, FICO, FEYE, FISV, FLEX, FORR, MXIM, MDLZ AND VRTX ADDITIONS TO WATCH LIST We added SAIC and VCYT to the Watch List this morning with additional details below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List PANW - Stock is higher by 1% but off the high of the session of $249.50. Really need it to hold today's gains and a close above $249.79 would be very bullish. Mid Cap Watch List SAIC - Stock was added to the Watch List today at an initial entry price of $73.98 with a second entry on any pullback to $72 with a price target of $80 and a stop of any CLOSE below $72.75. A close above $74.55 would be bullish. Small Cap Watch List VCYT - Stock was added to the Watch List today at an initial entry price of $23 with a second entry on any pullback to $22 with a price target of $26.50 and a sop of any CLOSE below $21.75. A close back above the 20 day moving average, currently at $23.77 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats