EB Watch List Update Report

Dear Members: MARKET NOTE: There's nothing positive about today's action for the bulls. Just when it looked like the NASDAQ might strengthen after lagging the Dow and S&P, today it is back below a very important level; its 50 day moving average, a level its been above since March 1. And now both the Dow and S&P are trading below their respective 20 day moving averages. In addition, the VIX is up over 8%, and back above both its 20 and 50 day moving averages. So technically, not a great day for the bulls. What's not falling? Oil and gold, both coming to life of late with the prospect of lower rates for some time. We have seen that even with the market under fire, traders are still willing to reward those companies that post strong earnings such as Facebook and Amazon that soared after they reported their numbers. But still the mood has turned sour right as the month of April comes to an end. The bulls are going to need to see the S&P close back above 2073 before they can claim they are back in control. And a close below 2061 could result in additional selling. A time to sit back and be cautious and see what develops. KEY EARNINGS REPORTS Companies reporting earnings today (April 29) include: AC.TO, AMC, AMT, BAS.DE, CPN, CBOE, CVX, CTB, ETN, XOM, HST, KBR, LM, MNST, MCO, NWL, PSX, RCL, STX and TYC. Companies reporting earnings Monday (May 2) include: AEGN, AIG, APC, DO, FMC, FOSL, GGP, L, OI, SBAC, SYY, TCO and THC. ADDITIONS TO WATCH LISTS: Going to hold off adding any stocks to the Watch List today. Too negative at the moment. 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 slightly. As a reminder we have a close of a stop below $38.62. However, we are changing our stop to a close below $38.83 which represents the 20 day moving average. Small Cap Watch List MRTN - Stock is down over 2% after recent move higher. SSYS - This stock has given up all of the gains from the past few sessions. As a reminder we have a stop of a close below $25.81. However, we are changing the stop to a close below $24.48 which represents the 50 day moving average. 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. I want to wish everyone a restful weekend and I will be back with my EB Watch List Update Report Monday morning. At your service, John Hopkins, EarningsBeats