EB Watch List Update Report

Dear Members: MARKET NOTE The market woke up to disturbing news from Belgium and so far has managed to hold up fairly well. The S&P continues to trade in a tight range with the bears unable to inflict much damage after the recent move higher. Both the Dow and S&P remain technically overbought and again the NASDAQ is not far behind. So traders are taking more of a wait and see attitude, not dumping positions but not adding so quickly like they did after the market bottomed on February 11. The question being asked now is: what might the next catalyst be to take the market higher or lower? The Fed has come and gone and earnings season has matured. We will get a few important economic reports by week's end which might help to give us some new clues and then next week well be into a new month that will include the monthly jobs report which is always a market mover. And, before you know it, we'll be into a new earnings quarter. But for the moment things are fairly quiet out there, and that's not necessarily a bad thing. We continue to be right in the middle of the current range of 2080 to the upside and 2017 to the downside, so equal reward to risk in either direction. One could argue the bias is higher since the bears have been unable to regain the technical advantage which currently belongs to the bulls. So until that changes we have to respect the upward trend that has been in place for six weeks now and see where the current consolidation leads us. KEY EARNINGS REPORTS Companies reporting earnings today (March 22) include: FIVE, NKE, RHT and SCS Companies reporting earnings tomorrow (March 23) include: GIS, FUL, and PVH ADDITIONS TO WATCH LISTS: Since the S&P remains in the middle of its current range we'll hold off on any new additions to the Watch List. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: BGC - This stock has weakened today on the news of a change at the CFO level. A close below $10.64 could help to take the stock lower. MDLZ - This stock remains weak and is currently below all key technical levels. Our target remains $9.85. LONGS: Large Cap Watch List There are no Large Cap stocks on the Watch List at this time. 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