EB Watch List Update Report

Dear Members: MARKET UPDATE The bulls are celebrating today as all of the major indexes move higher including the NASDAQ moving back over 6400 for the first time in three weeks. The move higher comes with the VIX now back under all key technical levels, frustrating the bears who thought they had something going, when in fact traders showed a willingness to buy stocks on the recent dip. The move higher is being led by tech stocks while blue chips stocks continue to lag. The buying comes as traders prepare to exit the month of August with September, a month generally weak for stocks, set to begin tomorrow. So the move higher this week is more impressive when considering a mostly historically weak period of the year for equities. The good news for the bulls is none of the major indexes are technically overbought so there is room for stocks to move higher. However, another day or two of this type of buying would likely leave stocks extended. In looking at the S&P, while the recent move has been welcomed by the bulls, it still remains well below its all time high of 2490 with the next key level of resistance at 2474. To the downside 2451 is now key support. So we could well find some consolidation takes place as traders contemplate their next moves. KEY EARNINGS REPORTS Companies reporting earnings today (August 31) Before Market Opens: CPB, CIEN, DG, LE and TD After Market Closes: AMBA, COO, LULU, PANW and TECD Companies reporting earnings tomorrow (September 1) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Please note that we will be updating the Candidate Tracker over the next few days which will include some new additions. Will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List LYV - Stock is higher today and a close above $39.79 would be very bullish. NVDA - Stock is up almost 2% today and a close above $168.40 would be a positive step to getting us closer to the price target of $172.50. Mid Cap Watch List SGMS - Stock is up 1% as it tries to break out of consolidation mode. A close above $35.45 would be bullish. YY - Stock is up 2.5% but well off the session high. Minimally would like to see it close above its 20 day which is currently at $72.64. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats