EB Watch List Update Report

MARKET NOTE: Dear Members: The market is like a broken record these days. The NASDAQ shines and everything else is left behind. We're seeing that same thing today with both the Dow and S&P remaining below their respective 20 and 50 day moving averages and only the NASDAQ above all key technical levels. I am noticing a development on the NASDAQ that could make it more vulnerable as well. The 20 day moving average is converging on the 50 day. The 20 day has not been below the 50 day for five months now. So a cross below could lead to more selling in tech stocks as well. The VIX is down slightly though it remains above all key technical levels; traders remain skeptical. The bulls will point to the fact that the S&P has now put in a higher low for five sessions. However, the same cannot be said about the Dow as traders shy away from blue chips. At the same time, a few more days of selling in the Dow would put it in oversold territory. We got some additional earnings yesterday with mixed results and apparently not strong enough to power the market significantly higher. This is one of those times when patience comes in handy; the S&P is in a very tight trading range of 2322 to the downside and 2356 to the upside. Which one will go first? Not sure but this is a good time to preserve capital for better opportunities. KEY EARNINGS REPORTS Companies reporting earnings today (April 20) include: DHI, DHR, ETFC, IMAX, JNS, KEY, MTG, MAT, MXIM, NUE, PPG, DGX, RHI, SHW, SNA, SON, TRV, VZ and V Companies reporting earnings tomorrow (April 21) include: GE, GNTX, HON, KSU, MAN, MORN, SLB, SWK and STI ADDITIONS TO WATCH LISTS: As I said, patience required. I believe we will have a much better chance to succeed if we get involved in trades if we see technical improvement or if we get a deeper sell off 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 with 5 cents of our price target of $25 so we sent a profit alert to members today and EXAS will be removed from the Watch List. GREAT TRADE! DELETIONS FROM OUR WATCH LISTS: EXAS will be removed from the Watch List At your service, John Hopkins EarningsBeat