EB Watch List Update Report

MARKET NOTE: Dear Members: So, is the move higher in the NASDAQ and S&P something to get excited about today? I don't think so. I might change my mind later if buying picks up but right now both the Dow and S&P remain below key technical levels. Only the NASDAQ is showing some technical strength. So to me it's a bifurcated market; the overall market is not in sync. The VIX is lower today but remains above all key technical levels. So less fear today than what we saw recently but still plenty of skepticism out there. Bond yields continue to show a flight to safety as an alternative to stocks. A good deal of the weakness in the Dow today can be attributed to IBM on missed earnings with the stock down over 5%. So far earnings results have been mediocre overall at best. Later today the Fed will release its Beige Book from the last FOMC meeting. There's almost always a nugget or two of information from the Beige Book that has the potential to move the market some, especially when it is in a vulnerable state. The good news for the bulls so far is the S&P has put in a higher low for the past four sessions. Maybe traders are willing to wait until even more earnings reports are released before deciding what to do but the edge still needs to be given to the bears at the moment with 2328, the most recent level as support and 2355, the 50 day moving average, now key resistance. KEY EARNINGS REPORTS Companies reporting earnings today (April 19) include: ABT, AXP, BXS, BLK, BDN, CSX, CP.TO, CLB, CCK, GPC, KALU, LHO, MS, NVR, QCOM, SLM, STLD, AMTD, TXT, USB, URI and EBAY Companies reporting earnings tomorrow (April 20) include: DHI, DHR, ETFC, IMAX, JNS, KEY, MTG, MAT, MXIM, NUE, PPG, DGX, RHI, SHW, SNA, SON, TRV, VZ and V ADDITIONS TO WATCH LISTS: Do not like the overall action here and will continue to hold off adding any stocks to the Watch List for the time being BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List EXAS - Stock got very close to our price target of $25 earlier in the session. PLEASE NOTE: WE ARE RAISING THE STOP to any INTRA DAY move below $24.25 to help insure profits. DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeat