EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls have been looking for an opening to make some progress and they got it after the results of the French election this weekend soothed nerves. Just look at the VIX, down 22% as it moved back below all key technical levels just a week after rising sharply on overall investor fear. The NASDAQ continues on its tear as it got close to another magic number; 6000. So tech stocks have continued to command center stage with both the Dow and S&P still lagging. The move higher in the NASDAQ has put it close to being in overbought territory but not quite yet. On the other hand neither the Dow nor the S&P is close to being overbought. The move higher today comes as earnings season shifts into high gear with some highly visible companies getting ready to report. So the momentum is strong with the bulls counting on solid earnings to boost the market even higher. Now that the S&P has moved above all key technical levels what might be next? First, we saw an April 5 high of 2378, so that is the next level of resistance. To the downside, 2358 is now support. It's a level the bulls knew they had to clear to regain the momentum and now it's a level they need to hold if they want to remain in control. In the meantime, we'll want to see how traders respond to earnings reports throughout the week with the bulls hoping they can remain in charge for more than a few days. KEY EARNINGS REPORTS Companies reporting earnings today (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 Companies reporting earnings tomorrow (April 25) include: PLEASE NOTE: We ran into a technical problem so were unable to list all of the key companies reporting earnings tomorrow. Hope to be able to correct by tomorrow. MMM, AKS, T, ARNC, AN, BHI, BKU, BIIB, BXP, CHRW, CIT, COF, CAT, CMG, CB, KO, CLGX, GLW, DFS, DD, LLY, FITB, FSLR, FCX, GCI, ILMN, JBLU, JNPR, LH, LMT, MAS, MCD, NLSN, PCAR, PNRA, PHM and R ADDITIONS TO WATCH LISTS: We added NOV to our Watch List this morning with more details below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NOV - We added this stock to the Watch List this morning at an entry price of $35.26 with a price target of $37.45 and a stop of any INTRA DAY move below $34.51. 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 At your service, John Hopkins EarningsBeat