EB Watch List Update Report

Dear Members: MARKET UPDATE The market is giving up some of yesterday's gains as the NASDAQ and S&P failed to close above key technical levels I mentioned in yesterday's update. So far the selling hasn't been all that deep but the bulls are back behind the 8 ball with the S&P now back below both its 20 and 50 day moving averages with the NASDAQ trying to hold its 50 day. The VIX is up by 5% so a little pick up in nervousness but not showing any trader panic. The Dow is hugging its 20 day as blue chips try to hold favorable status. So the selling is not terrible but traders have to be on high alert in case selling accelerates. We did see once again yesterday that traders were willing to buy on the dip. But they also took profits when the NASDAQ and S&P hit those key technical levels yesterday as we're seeing today. As usual we'll want to watch the late day action to see where the market closes. Any move back above 2453 on the S&P would have to be seen as bullish. Short of that we'll have to give the edge to the bears. KEY EARNINGS REPORTS Companies reporting earnings today (August 23) Before Market Opens: AEO, EV, LOW and RY After Market Closes: HPQ, PVY and WSM Companies reporting earnings tomorrow (August 24) Before Market Opens: FLWS, ANF, BURL, DLTR, GME, HRL, MIK, PERY, SHLD, SIG, SJM, SPLS, TIFand TTC After Market Closes: ADSK, AVGO, BRCD, MRVL, VEEV and VMW ADDITIONS TO WATCH LIST We added NVDA 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 LYV - Stock is fairly flat and a close above $39.79 would be bullish. NVDA - We added this stock to the Watch List this morning at an initial entry price of $164.17 with a second entry on any pullback to $159.70 with a price target of $172.50 and a stop loss of any close below the 20 day moving average. Mid Cap Watch List SGMS - Stock is up slightly and a close above $35.05 would be bullish. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats