EB Watch List Update Report

Dear Members: MARKET NOTE: So what's going on today? First of all the Dow is taking a day off, at least so far. It needed it; way overbought. Tech stocks are showing renewed strength after lagging the past week with the NASDAQ closing in on 5300. The S&P is lower as well after failing yesterday to clear the most recent high of 2182. Two things standing out today. First, government bond yields continue to hold after the recent move higher. In addition, the US Dollar remains stubbornly high as well. But, both are very stretched at the moment which could make it tougher for them to advance much higher. Interestingly, stocks have risen along with bond yields and the rise in the dollar. So what might happen if bond yields and the dollar start to pull back some? Generally that is a positive for stocks. But given the recent move higher in equities that might not be the case, at least in the short term. I'm particularly keeping a close eye on the S&P. It remains within easy striking range of its all time high of 2193. Yet any time it gets near the 2180 level it pauses. The NASDAQ is within two points of 5300, also a level to watch which has been a tough level for the bulls to clear. There are still many unanswered questions with the developments over the past week. But overall the market has held up quite well, in spite of the uncertainty. We're also in a positive time of the year for stocks. So the bulls are likely to keep pounding away with the goal of moving the S&P to an all time high. It starts with clearing that 2182 level. Otherwise we could see the market more in consolidation mode. KEY EARNINGS REPORTS Companies reporting earnings today (November 16) include: CSCO, LB, LOW, NTAP, PGR and TGT Companies reporting earnings tomorrow (November 17) include: AMAT, BBY, GPS, HAYN, HP, INTU, SJM, MRVL, ROST, CRM, SPLS, WMT and WSM ADDITIONS TO WATCH LISTS: As a reminded 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. I'm more inclined to consider long alerts if the S&P can show some progress. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List None at this time DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats