EB Watch List Update Report

Dear Members: MARKET NOTE: Well, what have we got going today? We have a bifurcated market, one where traders are avoiding tech stocks thanks in large part to Apple's weak earnings report after the bell last night. The Dow is higher while the S&P is barely lower while the NASDAQ has fallen below both its 20 and 200 day moving averages, at least on an intra day basis. And it's a big test just before the Fed makes its interest rate announcement at 2:00 pm eastern. The bout of selling recently has at least served the purpose of letting some steam out of the Dow and S&P which had gotten technically overbought. That is no longer the case. So the bulls don't have to worry about that right now. All they have to do is to convince traders to jump back in on the long side. AAPL wasn't alone in reporting weak earnings. Just look at Twitter, down 15%. Weak earnings = appropriate market response. The earnings parade will continue full throttle today with companies like Boeing, Facebook and Texas Instruments set to report and then Amazon and Amgen as well as many other highly visible companies. So far we've seen a mixed result to earnings with tech stocks taking the brunt of the pain. But, we've got the Fed on tap in less than two hours and what they say could help to put a halt to the selling or maybe signal a near term top in the market. Let's also remember that we have advanced Q1 GDP tomorrow morning, a snapshot of the state of the economy, that will be closely scrutinized. We'll want to see if the bulls can hold 2074 on the S&P if the selling picks up. To the upside they'll want to see the S&P back above 2100 as soon as possible. We might have a decent idea of where things are headed once we get through tomorrow's GDP's report. KEY EARNINGS REPORTS Companies reporting earnings today (April 27) include: AOS, ADT, AMP, AMKR, BHI, BA, BSX, CG, CAKE, CMCSA, DLB, DPS, DRE, EFX, FB, FSLR, GCI, GRMN, GD, GSK.L, G.TO, GT, HES, HLT, IP, JLL, LLL, LQ, LEA, LXK, MAR, MSTR, NDAQ, NEU, NOC, ORLY, OC, PYPL, RDN, SO, STT, SU.TO, TER, TXN, UHS, VRX.TO, GRA and XLNX. Companies reporting earnings tomorrow (April 28) include: AET, ALXN, ALGN, MO, AMZN, AMGN, AVT, BIDU, BLL, BWA, BMY, BC, CAH, CELG, CHTR, LNG, CHDN, CIT, CME, CCE, CL, COLM, COP, CUBE, CY, DLX, DP, DOW, DNKN, EXPE, FLEX, F, GILD, GRPN, HUN, IRM, JNPR, LNKD, MMC, MA, MJN, N, NUS, OSK, P, PF, PFG, RTN, RGC, SWKS, SYNA, TASR, TWC, TRMB, UPS, UTHR, VRSN, VIAB, VC and WDC. ADDITIONS TO WATCH LISTS: No additions 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 There are no Large Cap stocks on the Watch List at this time. Mid Cap Watch List TRCO - Stock is down over 1% today as it continues to consolidate. A close above $39.66 would be bullish. Small Cap Watch List MRTN - This stock was added yesterday and has been trying to tack on some gains since. A close above $19.31 would be very bullish. SSYS - This stock is higher by over 3% today after a great reversal to the upside yesterday. A close back above $27.29 would be very bullish. 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