EB Watch List Update Report

MARKET NOTE: Dear Members: We've got another trading day and week underway with all of the major indexes flat to higher. Traders remain quite confident here with the VIX remaining below all key technical levels. The NASDAQ is continuing to show strength as it hit an all time high earlier in the session. Along with this strong showing the NASDAQ is once again nearing overbought territory. Not the same for the Dow and S&P; they are lagging the tech sector at the moment. Traders are happy to have the Fed rate decision behind them; less distraction. Also, options expiration Friday has come and gone; one less thing to deal with. This week is light on economic reports and we're 3-4 weeks away from the start of Q1 earnings season. So we're left to rely more on the charts than anything else at the moment. The S&P has moved into stall mode since hitting its all time high on March 1. It hasn't pulled back much, but has been unable to make further progress, but the few times its tested the 20 day moving average it has easily held. This tells me traders are still willing to give the bulls the benefit of the doubt until something comes along to change the momentum. Thus we've got a trading range on the S&P of 2400 to the upside and 2365, the current 20 day moving average, to the downside. KEY EARNINGS REPORTS Companies reporting earnings today (March 20) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (March 21) include: FDX, GIS, FUL, LEN, NKE, SLW.TO and SCS ADDITIONS TO WATCH LISTS: We added APO to our Watch List this morning with more information below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List ARNC - Stock is higher by almost 2% today and is now back above all key technical levels. It got as high as $28.18 today and a close above $28.09 would have to be seen as bullish. XL - Stock is fairly flat as it remains above all key technical levels. A move back above Friday's high of $40.42 would be bullish. Mid Cap Watch List APO - We added this stock to our Watch List this morning with an initial entry price of $23.37 and a second entry on any pullback to $22.75. The target price is $25.68 with a stop loss of any INTRA DAY move below $22.44. Small Cap Watch List CBM - Stock is down slightly after making a nice move higher on Friday. A close above $51.30 would be bullish. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats