EB Watch List Update Report

Dear Members: MARKET UPDATE The market has made some progress today, at least so far, with all of the major indexes now back above all key technical levels. This comes after some recent selling that gave the bears some hope but they are seeing that the bulls are not willing to give up quite yet. The VIX is showing that traders have relaxed some. It's not as low as we saw in late July when the VIX moved into the 8's, but it's still relatively low based on an historic perspective. Economic data this morning was positive with the ADP jobs report handily beating expectations and revised Q2 GDP beating expectations as well. This seems to have soothed some nerves with gold well off the high from yesterday and bond yields off the lows of yesterday when traders moved to safety. The bears certainly have had ample opportunities to regain the momentum but traders have so far shown a willingness to buy on the dips. Now we're going to see if traders are willing to hold instead of selling on moves higher which would be a change in the recent trend and could lead to even higher prices. Of course the key is for all of the major indexes to CLOSE above all key technical levels which means we need the S&P to close above 2451 and the bulls would like to see some building into the close. Should the S&P close back below 2450 then the market will be vulnerable to more selling. KEY EARNINGS REPORTS Companies reporting earnings today (August 30) Before Market Opens: ADI, BOBE, CHS, FRO and VRA After Market Closes: BOX, DRYS and FIVE Companies reporting earnings tomorrow (August 31) Before Market Opens: CPB, CIEN, DG, LE and TD After Market Closes: AMBA, COO, LULU, PANW and TECD ADDITIONS TO WATCH LIST We added YY to the Watch List today with more information below BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List LYV - Stock is up slightly and a close above $39.79 would be very bullish. NVDA - Stock has been in consolidation mode for two weeks now. It's going to need to close back above $165.80 to regain some momentum. Mid Cap Watch List SGMS - Another stock that has been consolidating for two weeks now. Would like to see it close back above $35.15 which would be bullish. YY - We issued an alert on YY this morning at an entry price of $70.34 with a price target of $76.40 and a stop loss of any close below the 50 day moving average. A close back above $71 would be a good start. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats