EB Watch List Update Report

Dear Members: MARKET NOTE: The bulls found some legs as last week came to a close and earlier this morning looked like perhaps could add on to Friday's gains. But so far only the NASDAQ is showing any life and even then is well off earlier highs. In fact, the NASDAQ has gravitated right back to its 20 day moving average at 4773, a level the bulls don't want to lose, because if that goes, the NASDAQ will be back beneath all key technical levels. But traders are being stingy with their capital these days, and for good reason; the market is back to lots of uncertainty, especially with the Fed putting the market on notice that a rate hike could come as early as June. And of course the market always detests uncertainty. Thus, the going nowhere fast market environment. In looking at the S&P, we've got the 20 day below the 50 day which I never like; just go back to late August and then again in December when this happened and you will see two big declines. It doesn't mean we're in for a big decline here, but the current reluctance to go long is a sign that we could see some more selling. Bottom line; not much to do here but lay low until things settle down. KEY EARNINGS REPORTS Companies reporting earnings today (May 23) include: There are no key earnings reports due out today Companies reporting earnings Monday (May 24) include: AZO, CSC, INTU and TOL ADDITIONS TO WATCH LISTS: Please note that we have updated the Candidate Tracker and you will see that there are over 40 new stocks under the earnings Beats section. We will be looking to update the earnings Misses this week. Right now we've only got one stock on the Watch List. I'm going to hold off on any other alerts 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 SKX - Stock is up slightly and a close above $30.81 would be very bullish. 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