EB Watch List Update Report

Dear Members: MARKET UPDATE For the first time in a while, all of the major indexes are lower. This includes the Dow after 8 days in a row of higher prices. If the bears think traders were spooked by yesterday's Fed rate announcement they might be mistaken. Just look at the VIX, back in the 9's, as traders easily absorb what the Fed had to say. This doesn't mean stocks can't go lower here; both the Dow and S&P got too stretched and could use even more of a pullback. But so far traders continue to buy on any pullbacks; it's just the environment we are in right now. The NASDAQ pulled back exactly to its 20 day moving average earlier in the day before bouncing. And so far the S&P has held the 2500 level. Where should traders start to worry? Probably if the S&P closed back below its 50 day moving average, currently at 2468, But more likely, should it move down to that level, it would result in some heavy buying. That old saying to not fight the tape seems to be appropriate at the moment. The bulls are in charge and until that changes must be respected. KEY EARNINGS REPORTS Companies reporting earnings today (September 21) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (September 22) Before Market Opens: KMX After Market Closes: None ADDITIONS TO WATCH LIST We added GWRE to the Watch List yesterday with more details below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GWRE - We added this stock yesterday at an entry price of $77.54 with a price target of $81.40 and a stop loss of any CLOSE below the 20 day, currently at $76.51. So far the stock has held the 20 day and any close above yesterday's close of $77.39 would be a plus. Mid Cap Watch List PSTG - Stock is breaking out on strong volume, up almost 3%, and if it holds its gains into the close would be very bullish. SFR - Stock so far has held its 50 day moving average and would still like to see it close back above its 20 day moving average, currently at $36.35, to keep it above all key technical levels. CTLT - Stock is up another 2.5% and a close above $40.79 would be very bullish. Small Cap Watch List None DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats