EB Watch List Update Report

Dear Members: MARKET NOTE: The market looks a little bit different today with the Dow red and the NASDAQ and S&P green. This is no surprise as I pointed out in yesterday's update how technically stretched the Dow was, especially banks that have led the move higher. In the NASDAQ we're seeing a relief rally. Some of the major tech stocks like Apple, Facebook and Google had gotten pounded since the election, to a point that they pulled back enough to interest bargain hunters. Even with the selling today the Dow remains technically overbought; it moved too fast too quickly. One thing is for certain; if traders were scared just prior to the election that has changed with the VIX down almost 5% and below all key technical levels. To me there are three important things to focus on in the very near term. First, the US Dollar which has been non-stop higher since it bounced off of its 200 day moving average on November 9. It is sitting right at 100 which happens to be a very critical level of resistance. And it is also extremely stretched. The next thing to watch is the yield on the Ten year Treasury Note that has jumped to 2.20%. It is also massively stretched. Finally is the S&P which has lagged the Dow and has failed numerous times to get back to it's all time high of 2193. With traders in such a bullish mood perhaps it finally gets there but at this moment it's having a tough time getting there. The first step would be to clear the most recent high of 2182. Until that happens it will be tough for the market to progress. The market has now had a week to absord the election results and could be at a "show me the money" moment. So far the benefit of the doubt has gone to the winner but soon the market will be looking for further evidence that the economy can grow further. KEY EARNINGS REPORTS Companies reporting earnings today (November 15) include: A, ARMK, DKS, HD, TJX, VOD and ZBRA Companies reporting earnings tomorrow (November 16) include: CSCO, LB, LOW, NTAP, PGR and TGT ADDITIONS TO WATCH LISTS: Please note that we have now updated the Candidate Tracker and have added over 50 new trding candidates, some that could become trading alerts. I will let you know via email if any stand out as high reward to risk trading candidates. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List PPYL - Stock closed below the stop loss of $40.05 so is being removed from the Watch List. Mid Cap Watch List None Small Cap Watch List HLX - Stock exceeded our price target of $9.85 so a profit alert was issued earlier today and it will be removed from the Watch List. GREAT TRADE! None at this time DELETIONS FROM OUR WATCH LISTS: HLX and PYPL are being removed from the Watch List At your service, John Hopkins EarningsBeats