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EB Watch List Update Report
Posted by john hopkins on Friday, Sep 13, 2019 10:44 Permalink
Dear Members.
Good morning!
I wanted to let everyone know this will be my last EB Watch List Update Report with Tom Bowley getting ready to provide his comprehensive Daily Market Report (DMR) to members starting next Monday. While Tom's duties as Chief Market Strategist at EarningsBeats.com will begin on Monday he will continue transitioning from StockCharts.com through month end and we look forward to a smooth process but appreciate your patience over the next few weeks. Exciting!
Market Update:
The bulls don't feel like turning the momentum over to the bears with the Dow and S&P higher with the NASDAQ slightly lower. Over the course of 10 days traders have gone from being quite nervous to being much less worried with the VIX being at its lowest level since the end of July. Making this rally of late more impressive is it's taking place in September. But, there's still a lot of time left in what has historically been a rough period for stocks. None of the major indexes are "officially" technically overbought though Stochastics are 97 on the S&P showing a pullback might not be so bad. But something positive started developing this morning with the 20 day moving average crossing back above the 50 day on the S&P, generally a bullish sign. Ditto on the Dow. So far the NASDAQ has continued to lag the broader market; if traders suddenly decided to put more capital into tech stocks that could be a catalyst for the overall market to move higher. The S&P remains one minor run from getting back to its all time high of 3027. It's often tough to climb above an all time high the first time around. And with the S&P already stretched some it could be more difficult. But if the bulls somehow find a way to clear that 3027 level it's hard to say what might come next. To the downside the 2950 level is now a very important technical level to hold should we see any sudden selling.
Companies reporting earnings today (September 13)
Before Market Opens:
None
After Market Closes
None
Companies reporting earnings Monday (September 16)
Before Market Opens:
None
After Market Closes:
None
STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST
We will keep you posted on any new additions to the Watch List.
BRIEF COMMENTS ON WATCH LIST STOCKS
SHORTS:
None
LONGS:
Large Cap Watch List
None
Medium Cap Watch List
None
Small Cap Watch List
CECO - Stock is higher by 1.6%. I have noticed the 20 day moving average converging on the 50 day from above and a cross below could be bearish. Stock really needs to clear its 20 moving average currently at $20.25, which would be bullish. We'll keep our stop at any CLOSE below $19 and it that changes we will let you know.
Deletions from Watch List
None
At your service,
John Hopkins
EarningsBeats.com Better Timing. Better Trades.
EB Watch List Update Report
Posted by john hopkins on Thursday, Sep 12, 2019 10:35 Permalink
Dear Members.
Good morning!
Market Update:
Already an interesting day let alone morning as all of the major indexes are higher but off session highs. At one point the market was hanging out then the rumors started flying about further trade talks which saw stocks spike. Then not too long after those rumors were debunked with the market losing a lot of the early gains. At the same time, the S&P has moved back above 3000 for the first time since August 1 with the VIX at its lowest since then as well as trader optimism has improved. But the reality is the S&P is right where it was six weeks ago. Still, at the moment the bulls should be pleased with what they are seeing with the S&P one nice spurt from hitting its all time high of 3027. It's worth noting that at its high of the day the Dow was within about 100 points from its all time high as well. Only the NASDAQ is lagging at the moment with traders seemingly wanting to focus more on non-tech stocks. If that were to change it could be a nice boost to the overall market. Worth pointing out; the 20 day moving average is converging on the 50 day on all of the major indexes, particularly on the Dow and S&P and a cross above the 50 day would have to be seen as bullish. You can bet the bulls will be aiming to reach that 3027 level on the S&P where there's likely to be strong resistance. To the downside, 3000 is now support with 2975 the next level of support below it.
Companies reporting earnings today (September 12)
Before Market Opens:
KR
After Market Closes
AVGO and ORCL
Companies reporting earnings tomorrow (September 13)
Before Market Opens:
None
After Market Closes:
None
STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST
We will keep you posted on any new additions to the Watch List. Going to continue to be very selective for the time being.
BRIEF COMMENTS ON WATCH LIST STOCKS
SHORTS:
None
LONGS:
Large Cap Watch List
None
Medium Cap Watch List
None
Small Cap Watch List
CECO - Stock is up slightly but continues to lag the overall market. Still would like to see it clear yesterday's high of $19.70 for it to get back on track. We'll keep our stop at any CLOSE below $19.
Deletions from Watch List
None
At your service,
John Hopkins
EarningsBeats.com Better Timing. Better Trades.
EB Watch List Update Report
Posted by john hopkins on Wednesday, Sep 11, 2019 10:22 Permalink
Dear Members.
Good morning!
Market Update:
Stocks are higher, the VIX is lower, Treasury yields may have put in a bottom, all of the major indexes are above all key technical levels, all positive for the market with all of the major indexes higher. Yet the sharp correction in some highly visible growth stocks has kept the NASDAQ from advancing in any significant way and the S&P has gone nowhere for the past six weeks. Yet the bears must be frustrated as the bulls have thwarted any major attempts to take the market lower, especially during a historically lousy month for stocks. We're at one of those times where traders are looking for any reason to go long or short; trade deal news, interest rate news, positive/negative earnings news, positive/negative economic news. Otherwise the market is likely to remain in consolidation mode. Yesterday's high on the S&P was 2989 so that is now resistance with 3000 next. To the downside the S&P got as low as 2967 and if that were to go 2948 (the 50 day moving average) would be next. So overall a mostly positive environment for stocks with the market remaining vulnerable to any sudden, negative tweet or unexpected news.
Companies reporting earnings today (September 11)
Before Market Opens:
None
After Market Closes
ACB
Companies reporting earnings tomorrow (September 12)
Before Market Opens:
KR
After Market Closes:
AVGO and ORCL
STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST
We will keep you posted on any new additions to the Watch List. Going to continue to be very selective for the time being.
BRIEF COMMENTS ON WATCH LIST STOCKS
SHORTS:
None
LONGS:
Large Cap Watch List
None
Medium Cap Watch List
None
Small Cap Watch List
CECO - Stock is off the high of the session. It remains oversold though certainly could move lower. Would at least like to see it clear today's high of $19.70 for it to get back on track. We'll keep our stop at any CLOSE below $19.
Deletions from Watch List
None
At your service,
John Hopkins
EarningsBeats.com Better Timing. Better Trades.