EB Watch List Update Report

Dear Members: MARKET NOTE In yesterday's update I pointed out that as long as the bulls were able to hold 2039 on any pullback they would continue to have the upper hand. The low today? 2039. And right on cue traders stepped in and started buying stocks. In addition, earlier this morning, the NASDAQ tested and held its 20 day moving average. So two for two for the bulls so far today today. This in spite of Alcoa's disappointing earnings report after the bell last night that has the stock lower by over 4%. The VIX is lower by over 5% and is now back below all key technical levels. And oil is higher as well so a lot of positive signs just ahead of the onslaught of earnings the market will see over the next few weeks. As usual what matters most is where the market closes when the bell rings. So once again as long as the bulls hold the line at 2039 on the S&P they should be OK. To the upside the target remains 2080. So we continue to trade in a fairly narrow range with the bulls looking to clear that 2080 level so they can then set their sights on the 2100 level. KEY EARNINGS REPORTS Companies reporting earnings today (April 12) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (April 13) include: JPM and TSCO.L ADDITIONS TO WATCH LISTS: First, please note that we have removed some stocks and added new ones to both the earnings Beats and earnings Misses section in the Candidate Tracker. We will be adding annotated charts for each new addition later today. We are adding a stock to our Mid Cap Watch List, Fossil Group, (FOSL) at the current price (as of this email) of $39.40 with a price target of $42.70 and a stop loss of a close below $38.50. All details will be added to our site later today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List AMAT - Stock is flat as a pancake today. We need to see AMAT close back above $21.42 to have a shot at our target price of $21.85. GRMN - Stock is up almost 1% and a close above $40.41 would be bullish. 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