EB Watch List Update Report

Dear Members: MARKET UPDATE Traders are in a foul mood today with all of the major indexes lower. So far both the NASDAQ and S&P have visited their respective 50 day moving averages and have bounced. But both remain below their respective 20 day moving averages as well. The VIX shot up early in the session before pulling back some but remains above all key technical levels, favoring the bears. This increased volatility of late could be pegged to increased fear as well as options expiring tomorrow. Toss in what is generally a weak period of the year and it's no surprise that the market is struggling some. For sure it's a time to remain cautious; even blue chips are struggling today, thanks to Walmart being down 1.6% after reporting earnings. The S&P now has a new range; 2462 to the upside and 2450 to the downside. That's quite a narrow range but those two levels represent the 20 day and 50 day moving averages, respectfully. The bulls don't really want to lose the 50 day as it could lead to more selling with the next key level of support down at 2437, a level already been visited twice. Of course we all know the market has been quite resilient so if the bulls can pick up some steam by day's end and push the S&P back above its 20 day that would at least give the bulls some breathing room as they try to re-group. KEY EARNINGS REPORTS Companies reporting earnings today (August 17) Before Market Opens: BABA and WMT After Market Closes: AMAT, GPS and ROST Companies reporting earnings tomorrow (August 18) Before Market Opens: DE and EL After Market Closes: None ADDITIONS TO WATCH LIST None at this time 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 SGMS - Stock is holding up well relative to the overall market. A close above $35.80 would be bullish. Small Cap Watch List VSH - Stock got to our second entry level today at the 50 day at $17.20. Price target is $18.50 with a stop loss of any INTRA DAY move below $16.95. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats