EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday AYI, MU, MON Thursday KMX MARKET NOTE: Stocks are off their lows of the session after getting off to a rough start. Weaker than expected economic reports didn't help the bulls make a case for traders to go long. The good news for the bulls is that so far the S&P has put in a higher low than the other day when it hit 2045. But all of the major indexes were below their respective 50 day moving averages at some point earlier today. To me we're at a near term critical point because the spread between the 20 and 50 day moving averages on the S&P has narrowed to just 4 points. So the bulls need to turn things here or can expect additional selling. Watch to see if 2045 holds on any further selling and a close above 2076 would favor the bulls. ADDITIONS TO WATCH LISTS: No additions today BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List AN - Failed breakout yesterday but remains in uptrend HAR - Testing its 50 day moving average HRS - Made breakout yesterday on nice volume. Should have short term support at $78 and then the rising 20 day if fails to hold $78. MCO - Breakout is $104.26 but needs more volume to confirm PCLN - Testing gap support at $1150 Mid Cap Watch List ONNN - Got downgraded today with the stock down 7%. Triggered second entry at $11.30. SYNA - Testing 50 day and price support near $79 so presents a possible good entry level for those who have been waiting Small Cap Watch List RTEC - Up 2% day after reversing earlier in the session SWHC - Approaching second entry at $12.60 DELETIONS FROM OUR WATCH LISTS: There are no deletions unless a Watch List stock hits its stop At your service, John Hopkins, Earnings Beats