EB Watch List Update Report

MARKET NOTE: Dear Members: I noted in yesterday's update that the VIX had caught my attention as it had moved substantially lower after spiking sharply on Monday. Now today its moved even lower and is back below all key technical levels. So whatever worries traders had entering the new week have now "disappeared." So far the move off the bottom we've seen in the market the past two sessions is a tech led rally; the NASDAQ is showing the most strength as it is back above all key technical levels. The Dow, on the other hand, is back below its 20 day and the S&P is slightly below its 20 day. So we've got a bit of a mixed picture as traders try to figure out if a near term bottom is in or if all we're getting is an oversold bounce. For sure we're not seeing the gung-ho type of buying we saw on any dips from the past four months. This is what happens when the market gets technically wounded; traders get a bit more gun shy. So now it's about whether or not the S&P can clear yesterday's high of 2363; it got close earlier in the session before stalling out. To the downside we saw strong support at the 50 day both Monday and yesterday so 2335 is now important support. Perhaps we'll see some clarification by day's end. In the meantime makes sense to tread lightly here. KEY EARNINGS REPORTS Companies reporting earnings today (March 29) include: LULU and PAYX Companies reporting earnings tomorrow (March 30) include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: None at this time BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List ARNC - Stock continues to consolidate just above its 50 day moving average. Must clear its 20 day moving average, now at $27.10, to get back on track. SRCL - Stock is resting right on its 50 day, now at $80.58. Either it holds here or it doesn't. Remember that any close below its 50 day moving average and the stock will be removed from the Watch List. XL - Stock remains above all key technical levels and a close back above $40.42 would be bullish. Mid Cap Watch List APO - Stock remains above all key technical levels and a close above $23.71 would be very bullish. Small Cap Watch List CBM - Stock is flat and a close back above its 20 day moving average, now at $51.59 would be bullish. DELETIONS FROM OUR WATCH LISTS: None at this time unless a stop loss is hit. At your service, John Hopkins EarningsBeats