EB Watch List Update Report

Dear Members: MARKET NOTE The bulls are in control at the moment; make no mistake about it. It helped when Fed chairwoman Janet Yellen gave the green light when she indicated the Fed will take its sweet old time in raising interest rates further. And it's coming as March winds down and one of the strongest months of the year is about to begin. It's also coming just in front of the monthly jobs report with indications that the report could be decent. It is with this background that traders are eager to participate on the long side. I did point out yesterday that the market is technically overbought. That continues today. And we know that there is key resistance right around 2080 on the S&P. It got within 8 points of that level yesterday and so far today it has put in a higher low. But it is possible that the bulls will push through that level and take a shot at 2100, a level not seen since early December of last year. If that happens it's going to put pressure on the shorts to cover some positions which could help to offset the current overbought conditions. Lots of "ifs" for sure but the positive action is coming right before April begins so a possible set up for even higher prices. However, in the event the market stalls here the bulls would be looking to hold right around 2050. Even then I would expect some interest in buying on any dip. KEY EARNINGS REPORTS Companies reporting earnings today (March 31) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (April 1) include: BB.TO ADDITIONS TO WATCH LISTS: We are adding a Large Cap stock to our Watch List as follows: TripAdvisor - Trip, at current price (as of this email) of $65.80 with a price target of $70.40 and a stop loss of a close below $63.90. All details will be added to our site later today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: BGC - This stock continues to trade in a range of between $10.40 and $11.40. If this stock closes above $11.48 it will be removed from the Watch List. LONGS: Large Cap Watch List AMAT - This stock put in a higher hith today and our target remains at $21.85. If it hits that level it will be removed from our Watch List. 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