EB Watch List Update Report

Dear Members: MARKET UPDATE All of the major have given up early gains and are now in negative territory as traders start to question the near term direction of the market. This continues to be especially true of the NASDAQ which tested its 20 day moving average from beneath before the selling kicked in. The VIX is showing that traders remain calm; it's still below all key technical levels. But the S&P is back below 2500, a psychological level at a minimum, as traders take some chips off the table. The good news for the bulls is the S&P held above its 20 day moving average yesterday and still remains well above that level, currently at 2487. So this remains a key marker. A very constant pattern over the past many months has been buying on dips. Is the market setting up for something similar soon? Or will we need even more selling to get the interest of those on the sidelines? In one sense it's fairly easy to see the range on the S&P; 2487 to the downside and 2508 to the upside. As long as the bulls continue to hold the 20 day or if they manage to clear that all time high, they will have the upper hand. If the S&P closes below 2487 then the bears will at least have something to work with. In the meantime it could be a bit tricky to trade successfully in the current narrow range which could lead to more whipsaw type action. KEY EARNINGS REPORTS Companies reporting earnings today (September 26) Before Market Opens DRI After Market Closes: MU and NKE Companies reporting earnings tomorrow (September 27) Before Market Opens: WOR After Market Closes: JBL and PIR ADDITIONS TO WATCH LIST Going to be a bit more cautious at the moment BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock rose sharply earlier in the session before pulling back some. Would like to see it close back above its 20 day moving average, currently at $173.81, at a minimum. Mid Cap Watch List GWRE - Stock is down almost 1.5% as it tries to hold above all key technical levels. Would like to see it close back above Friday's close of $78.64 which would be bullish. PSTG - Stock is fairly flat and a close above $15.95 would be very bullish. SFR - Stock is up slightly 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 giving back 3% this morning as it tries to hold its 20 day moving average, currently at $39.50. Small Cap Watch List GIII - Stock is up over 1.75% and a close above $28.98 (the high of the day) would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats