EB Watch List Update Report

MARKET NOTE: Dear Members: Welcome to the first day of spring! The bears have been waiting for an opportunity to seize the momentum after watching the bulls dominate the action for the past four months. They've got that opportunity today with all of the major indexes sharply lower. For the first time in quite a while all of the major indexes have moved below their respective 20 day moving averages, at least Intra Day. We're finally seeing a pick up in fear with the VIX up over 10%; traders aren't used to this negative action. This day could end up being a defining moment for the market, at least in the near term. Time and again traders have shown great interest in jumping in on any pullbacks. They've certainly got that opportunity today. The move lower in the NASDAQ comes after it hit its all time high earlier in the session; so far its a 100+ point turnaround from high to low of the session. In looking at the S&P it move to the 2350 level where there is some support. If that level goes then 2339 could come next. Here's the bottom line: today's close becomes important. The S&P has mostly remained above its 20 day moving average for over four months. A close below that level could lead to additional selling. On the flip side any close above the 20 day, now at 4364, would have to be respected. KEY EARNINGS REPORTS Companies reporting earnings today (March 21) include: FDX, GIS, FUL, LEN, NKE, SLW.TO and SCS Companies reporting earnings tomorrow (March 22) include: FIVE, MLHR and PVH ADDITIONS TO WATCH LISTS: We will be adding a new batch of stocks to the Candidate Tracker over the next few days and will let you know whey they are available for your review. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List ARNC - Stock is down by over 3% after making a strong move higher the past few sessions. A move back above the 20 day moving average, now at $27.42, would put the stock back in good technical shape. XL - Stock continues to consolidate and remains above all key technical levels. A move back above today's high of $40.47 would be very bullish. Mid Cap Watch List APO - Stock is holding up pretty well considering the overall market action. A close above $23.71 would be very bullish. Small Cap Watch List CBM - Stock is down slightly and a close above $51.30 would be bullish. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats