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.