EB Watch List Update Report

MARKET NOTE: Dear Members: Traders took advantage of lower prices yesterday with nice gains on all of the major indexes. So far today there's been no follow through and in fact the S&P so far has failed to clear key technical levels. This is not totally surprising. What used to be support is now resistance as the bulls are seeing today. The VIX tested its 20 day moving average from the upside yesterday but was unable to close below and today is up by 5% as traders wonder if there's more selling to come. Perhaps some nervousness ahead of this weekend's French election where the outcome is uncertain. The best thing the bulls have going for them is the NASDAQ which put in an all time high close yesterday. That's pretty impressive, all things considered, and shows the continuing interest in tech stocks at the expense of blue chip stocks which are being left behind. We're getting deeper into earnings season with mixed results but a positive response to some highly visible companies. So there's a lot of optimism that overall earnings could meet or beat what are high expectations. For sure the bulls are trying to gain some traction here but they just might have to wait another day. In the meantime 2357 is now the level the bulls need to CLOSE above to regain the technical advantage. 2322 remains key support. KEY EARNINGS REPORTS Companies reporting earnings today (April 21) include: GE, GNTX, HON, KSU, MAN, MORN, SLB, SWK and STI Companies reporting earnings Monday (April 24) include: AA, AMP, BOH, ABX.TO, COH, CR, ESRX, HAL, HAS, KMB, NEM, ODP, OI, RMBS, SOHU, SWFT, TMUS, TROW, TCB, WHR and ZION ADDITIONS TO WATCH LISTS: Suggest patience to see if the bulls are able to clear important technical levels. If successful may look at some new trading opportunities and will let you know. 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 None at this time DELETIONS FROM THE WATCH LIST None at this time I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report At your service, John Hopkins EarningsBeat