EB Watch List Update Report

Dear Members: Market Update Something catching my eye today; the 20 day moving average on the NASDAQ is converging on the 50 day. A move below would be bearish. The last time the 20 was below the 50 was in January. And the last time it crossed below was in October of 2018 when the NASAQ continued lower for two months when it reached its late December low. I'm not saying we're going to see this again. What I am saying is the bulls know they need to defend at this level or there could be trouble on the horizon. To their credit the bulls have stepped up when they needed to on many occasions over the past 5 months and it could happen again. But I'm going to watch to see if the early gains hold as the day progresses. In the meantime the same pattern is developing on the S&P. It happened on the Dow last week as blue chip stocks continue to struggle. Key at the moment; can the S&P clear and stay above 2875? If so then the bulls will have something to work with. Short of that it's a time to remain very selective with no need to rush into anything here. Companies reporting earnings today (May 21) Before Market Opens: AZO, EV, HD, KSS and TJX After Market Closes JWN, PSTG, TOL and URBN Companies reporting earnings tomorrow (May 22) Before Market Opens: AAP, ADI, LOW and TGT After Market Closes: LB, NTAP, SNPS and TARO ADDITIONS TO WATCH LIST You will notice there are currently no active alerts. Going to continue to be picky here. 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