EB Watch List Update Report

Dear Members: MARKET UPDATE Another trading day and another day with the Dow higher and the NASDAQ and S&P fairly flat with Dow hitting another record high. Once again the VIX is showing traders at a high level of confidence in the stock market as traders prepare for tomorrow's Fed interest rate announcement. The pattern of late continues with blue chips in highest demand while tech stocks lag some. This is confirmed with the Dow technically overbought while the NASDAQ has some catching up to do. The current momentum comes at a time of the year that is historically weak; that shows you there is quite a bid beneath the market. The S&P is right near overbought territory but there's still room for stocks to move higher as long as traders are willing to continue to commit fresh capital to the market. So far the market is taking tomorrow's Fed rate announcement in stride. There's no expectation for any rate increase with more interest in what Fed Chairwoman Janet Yellen has to say during her press conference following the decision. Right now the bulls have the upper hand and until that changes should be respected. KEY EARNINGS REPORTS Companies reporting earnings today (September 19) Before Market Opens AZO After Market Closes: ADBE, BBBY, CRPT and FDX Companies reporting earnings tomorrow (September 20) Before Market Opens: GIS After Market Closes: MLHR ADDITIONS TO WATCH LIST We added ORCL and CTLT to the Watch List with more details below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List ORCL - Stock was added to the Watch List this morning at an entry price of $48.43 with a price target of $51.20 and a stop loss of any INTRA DAY move below $47.97. Mid Cap Watch List KORS - Stock exceeded our price target this morning of $45.75 so is being removed from the Watch List. GREAT TRADE! PSTG - Stock is down 1% as it continues to consolidate above its 20 day moving average. A close above $14.99 would be very bullish. SFR - Stock is fairly flat and remains above all key technical levels. A close above $36.85 would be bullish CTLT - We added this stock to the Watch List this morning at an initial entry price of $39.14 with a second entry price on any pullback to $38.25 and a stop of any close below $38 with a price target of $41.65. For those who tend to be more conservative you might want to wait and see if the stock pulls back to the second entry level of $38.25. Small Cap Watch List None DELETIONS FROM THE WATCH LIST KORS is being removed from the Watch List At your service, John Hopkins EarningsBeats