EB Watch List Update Report

Dear Members: MARKET UPDATE The new trading day, week and month has started out on a tragic note with the overnight developments in Las Vegas but the market continues to power higher with all of the major indexes hitting record highs. The record highs come with the Dow and S&P technically overbought and the NASDAQ not far behind. The VIX remains solidly in the mid 9's as trader confidence remains high as well. And the bulls must be very pleased to see the month of October get off to a positive start. The move higher also comes with the $USD and government bond yields moving higher as stock traders continue to turn a blind eye to other asset classes. As we begin the month of October we get closer to Q3 earnings season kicking in with thousands of companies about to report their numbers. Apparently traders feel confident that the numbers will be quite good. While the bulls have been enjoying the higher moves of late the market is getting extended. This doesn't mean stocks cannot go higher; they can. But it's starting to feel like the market is priced for perfection; not much margin for anything popping up out of the blue that could spook traders. The bulls now have a new marker on the S&P of 2527. The 20 day moving average is currently at 2496. This is now the new trading range with the bulls hoping to take the market even higher. It could make sense here to at least keep one finger on the sell button in case traders decide in unison to lock in some profits. Might even make some sense to start to raise some cash in case there is a pullback which is long overdue. Not predicting doom and gloom at all but the rally could be getting a bit long in the tooth. KEY EARNINGS REPORTS Companies reporting earnings today (October 2) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (October 3) Before Market Opens: LEN and PAYX After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted if are any additions to the Watch List BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock is up slightly but off the high of the day. Would like to see the stock close above $179 and even better if closes above $180.76. CRM - Stock is up slightly as it tries to move back above all key technical levels and a close back above $94.08 would be very bullish. Mid Cap Watch List GWRE - Stock is up slightly and a close back above $78.64 would be bullish. SFR - Stock continues to move higher and a close back above $36.75 would be very bullish. CTLT - Stock is up by more than 1.5% and a close back above $40.79 would be very bullish. Small Cap Watch List GIII - Stock is up slightly and a close back above $30 would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats