EB Watch List Update Report

Dear Members: MARKET NOTE We're seeing yet again today that breaking out above a key technical level is not so easy to do. We have seen attempts for two days in a row to clear the 200 day moving average on the S&P that have met with resistance, just like we would expect. Now today all of the major indexes are lower on the heels of a weak retail sales report that comes one day ahead of the Fed interest rate announcement where virtual certainty that the Fed would hint at another rate increase is now not so certain. And this is coming just as the market had prepared itself for a near term rate hike, so now all bets are off. The good news for the bulls is they have so far easily held the 2000 level. And the VIX is higher, but not by much, as trader confidence is still much higher today than it was earlier in the year. We may well see that traders are unwilling to get aggressively long or short into tomorrow's Fed meeting which makes sense, especially since there is no way of telling how the market will respond to their actions and words. In other words, it's really a crap shoot as the market could go either way. For our purposes we'll want to see if that 2000 level on the S&P continues to hold. After that is 1994 is the next level of support. To the upside, 2022, Friday's close, is a level the bulls will need to clear to have a shot at the next important level of resistance just below 2040. KEY EARNINGS REPORTS Companies reporting earnings today (March 15) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (March 16) include: FDX, GES, MLHR, JBL, PGR, SLW.TO and WSM ADDITIONS TO WATCH LISTS: As a reminder, please note that we updated our Candidate Tracker yesterday and added some fresh stocks under both the earnings Beats and earnings Misses sections on the site. These new additions are stocks that either beat or missed earnings expectations and could be good reward to risk trading candidates on the long/short side. Most definitely worth looking at! BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List SHORTS: MDLZ - Stock is showing some weakness today, down over 1% as it has run into some headwinds near its 200 day moving average. A close below $41.67 could put it in a position to move even lower. ROP - Stock is fairly flat after making a move higher earlier today. A close back below its 200 day moving average, now at $173, could put it in a position to move lower. In the meantime, we have a stop of a close above $177 in case it moves higher. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats