EB Watch List Update Report

Dear Members: MARKET UPDATE It's Fed rate announcement day and so far we've got a mixed picture with blue chips continuing their march higher while the NASDAQ lags. If the bears are looking to spook traders they've got more work to do as the VIX is flat while showing plenty of investor confidence. Expectations for today's Fed announcement are universal; no rate increase for September with the Fed preparing to start reducing their balance sheet. What's not certain is what they might do down the road so traders are hoping for clarification during Fed chairwoman Janet Yellen's press conference after the announcement. The Dow is now up for 8 straight sessions in a row as it remains technically overbought. Looks like traders are betting blue chip stocks will hold up well no matter the Fed decision. It should be pointed out that the S&P is technically overbought as well, so two of the three major indexes are stretched here. We continue to see traders jumping in on any pullbacks, brief as they have been. So the bid underneath the market remains very strong. We'll watch the reaction to this afternoon's Fed event and will go from there. KEY EARNINGS REPORTS Companies reporting earnings today (September 20) Before Market Opens GIS After Market Closes: MLHR Companies reporting earnings tomorrow (September 21) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Will let you know if spot any new high reward to risk trading opportunities BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List ORCL - Stock moved below our stop of $47.97 yesterday so is being removed from the Watch List. We may revisit this one if it gets even more oversold. Mid Cap Watch List PSTG - Stock is fairly flat. It tried to breakout yesterday but once again got stymied right near the $15 level. A close above $14.99 would be very bullish. SFR - Stock is down 2% today as it cools off some. Would like to see it close back above its 20 day moving average, currently at $36.40, to keep it above all key technical levels. CTLT - Stock is up almost 1.5% today and a close back above $39.50 would be bullish. Small Cap Watch List None DELETIONS FROM THE WATCH LIST ORCL is being removed from the Watch List At your service, John Hopkins EarningsBeats