EB Watch List Update Report

MARKET NOTE: Dear Members: We've made it through the weekend with all of the major indexes higher as we begin a new trading day, week and month. In what has become quite common of late, the NASDAQ is leading the charge higher as it makes another all time high. This all time high brings with it very overbought oscillators - the NASDAQ is very stretched - but traders don't really seem to care. The Dow and S&P continue to do what they've done for a while as well as they both struggle to get back back to their respective all time highs. The VIX is down slightly; no fear in this market as traders ignore the old adage of "go away in May." Interestingly all of the economic data out this morning came out weaker than expected but is being ignored. Traders are looking forward these days; old news is old news. Two important economic related events will happen this week. First, the FOMC will make its interest rate announcement on Wednesday. At the moment the Fed is not expected to raise rates with most analysts believing that could happen in June. But they could say something that either helps or spooks the market. Then we've got the monthly non-farm payroll report on Friday. The jobs report is always important as it has potential to move the market as well. The magic number on the S&P for the bulls remains at 2400 while support is just above 2360. Which one might go first? Hard to tell at the moment but as long as the bulls hold the major indexes above all key technical levels they must be respected. KEY EARNINGS REPORTS Companies reporting earnings today (May 1) include: AMD, AGU, CAH, DO, DISH, DNB, L, SBAC and THC Companies reporting earnings Tuesday (May 2) include: FLWS, AEGN, AET, AKAM, ALL, MO, APC, AAPL, ADM, AIZ, CZR, CGX, COH, COP, CNX, CMI, CVS, DVN, ETN, EMR, FBRC, FEYE, FSLR, GILD, GDDY, HBI, HCA, HLT, MA, MRK, MDLZ, MOS, NRG, PFE, PCG, PBI and WU ADDITIONS TO WATCH LISTS: We added GNC to the 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 NVDA - Stock is higher by 1% as it continues to consolidate. A close above $106.07 would be bullish. Mid Cap Watch List None at this time Small Cap Watch List GNC - Stock was added this morning at entry price of 7.69 with a price target of $8.70 and a stop of any INTRA DAY move below $7.50 DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats