EB Watch List Update Report

Dear Members: MARKET UPDATE I made the case on Friday that the market looked like it wanted to go higher and we are seeing all of the major indexes up nicely as we begin a new trading day and week. A few things worth mentioning include a pullback in gold after its recent surge, a stronger $USD after getting pummeled of late, higher bond yields after the ten year government note neared 2% last week and a VIX down 10% as it moves back below all key technical levels on a collective sigh of relief that Hurricane Irma has slowed and no new antagonistic action from North Korea. over the weekend Traders are also pleased to see the Dow participating in today's rally where it is showing some leadership for a change. So nice action in blue chips and tech stocks alike. The S&P got within 7 points of its all time high with the bulls hoping to clear that level before too long. As it stands, the all time high close on the S&P was 2480.91 on August 11, so any close above that level would have to be seen as bullish. Economic reports are fairly slim early in the week but we will get a CPI reading along with retail sales, manufacturing data and a consumer confidence reading later in the week. Then the market will start to prepare for the Fed rate announcement that will come next Wednesday. So some important data including hearing from the Fed, something that always catches the attention of the market. Right now we'll remain focused on the long side; shorting doesn't work right now. And if the S&P can clear that all time high of 2490 we're likely to see even more interest on the buy side. KEY EARNINGS REPORTS Companies reporting earnings today (September 11) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (September 12) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Looking at a few potential trading candidates and will keep members posted BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List LYV - Stock is up over 1% with our target remaining at $42. NVDA - Stock is up by 2.5% as the stock tries to get back on track with our price target at $172.50. Mid Cap Watch List SGMS - Stock is up over 2% and a close above $37.20 would be bullish. KORS - Stock is higher by almost 2% as it successfully held above its 20 day moving average on Friday. A close above $42.81 would be bullish. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None at this time I want to wish everyone a safe and restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats