EB Watch List Update Report

Dear Members: MARKET UPDATE On Friday I pointed to important support on the S&P at 2484 and it would not be surprising to get there. This morning the S&P got as low as 2488 as traders decided to take profits on all of the major indexes, especially the tech heavy NASDAQ which moved below its 50 day moving average earlier in the session and has since bounced some. Not helping this morning is more talk from North Korea about its right to take action against the US, something traders would just as soon not see in the headlines. The selling this morning was actually overdue, particularly in the Dow and even the S&P, which had gotten technically extended. And the VIX is showing that traders at least have a pulse as it has climbed over 10% as it challenges some key technical levels. Gold has risen back above 1300 this morning while government bond yields have fallen as traders move towards safety. Of course traders are mostly interested in seeing if the selling picks up or if the selling presents another buying opportunity. The mood has been quite positive of late so it would not be surprising to see some buying on this pullback. On the other hand, if traders decide to hold off to see if they can get stocks even cheaper, then we could see the selling pick up as the day progresses. Mostly we should watch the S&P to see if it holds its 50 day moving average, currently at 2485, a level the bulls do not want to lose. KEY EARNINGS REPORTS Companies reporting earnings today (September 25) Before Market Opens None After Market Closes: RHT Companies reporting earnings tomorrow (September 26) Before Market Opens: DRI After Market Closes: MU and NKE ADDITIONS TO WATCH LIST We added NVDA to the Watch List this morning but I had not received the email as of this update but you will find additional information below. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - We added this stock this morning at an initial entry price of just over $175 with a second entry on any pullback to $172,50, a price target of $189 and a stop of any close below $170. Mid Cap Watch List GWRE - Stock is down by 1.5% and any close above Friday's close of $78.64 would be bullish. PSTG - Stock is flat after making a nice move earlier in the session and a close above $15.95 would be very bullish. SFR - Stock is fairly flat as it tries to move back above its 20 day moving average, currently at $36.26, and a close back above that level would be positive. CTLT - Stock is fairly flat and a close above $40.79 would be very bullish. Small Cap Watch List GIII - Stock is up slightly and a close above $28.98 would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats At your service, John Hopkins EarningsBeats