EB Watch List Update Report

MARKET NOTE The economic reports out this morning were decent with consumer confidence actually beating expectations. But the market continues to consolidate with only the NASDAQ higher this morning. The good news for the bulls is the S&P continues to hold its important 200 day moving average. In fact, in looking at the chart, the 20 day moving average is trying to clear the 200 day to the upside which would be bullish. Fed chairwoman Janet Yellen will be giving a monetary related speech later today which will be closely monitored for any fresh clues regarding changes in interest rates. The bet at the moment is there won't be a rate increase in April so any indication that an increase could come sooner than expected could impact the market. The VIX is up slightly today; it's been inching higher the past week. It still favors the bulls but any additional selling could take the VIX higher. The big event of the week continues to be Friday's non-farm payroll report. The results could most definitely impact the market; perhaps a break out to the upside or on the flip side, a move back below the 200 day moving average on the S&P, now at 2016. But right now the overall action continues to remain mostly positive; traders are willing to step in on the long side on the dips. Not enough yet to add on to the most recent rally but enough to give the edge to the bulls. KEY EARNINGS REPORTS Companies reporting earnings today (March 29) include: CSX and HCSG Companies reporting earnings tomorrow (March 30) include: CCL, LULU, MU, PAYX and UNF ADDITIONS TO WATCH LISTS: We are adding a stock to our Large Cap Watch List as follows: Applied Materials: AMAT - At current price (as of this email) of $20.41 with a target of $21.85 and a stop of a close below $19.79. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: BGC - This stock has bounced today after holding its 20 day moving average yesterday. It needs to close back below $10.42 to give it a shot at hitting our target. 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 or above the stop loss provided. At your service, John Hopkins, EarningsBeats