EB Watch List Update Report

Dear Members: Please note that I will be travelling over the next 10 days. Accordingly my Market Updates could be coming out a bit earlier or later than usual each day. MARKET UPDATE The market is starting out just like it ended last week; higher. And once again we have record highs on all of the major indexes. Anticipation for very strong earnings continues as more companies are set to report throughout the week. How else could you account for the strong showing of late? Investor confidence is strong as well with the VIX back to being below all key technical levels. We know the market was technically overbought last week so the additional buying this morning means it's even more stretched. With all of the major indexes in record territory there's no telling how high they could go. The S&P almost touched 2560 earlier in the session so that is a level the bulls will now try to clear. To the downside 2540 is the first level of support and after that 2520. I've got a feeling that by the end of this week, which also happens to be options expiration Friday, we'll have a better sense of where the market might be headed and as we get a bunch of earnings results. In the meantime we must continue to respect the bulls unless something changes that turns the momentum over to the bears. Companies reporting earnings today (October 16) Before Market Opens None After Market Closes: IEX and NFLX Companies reporting earnings tomorrow (October 17) Before Market Opens: CMA, CSX, GS, GWW, HOG, JNJ, MBWN, PGR and UNH After Market Closes: CREE ADDITIONS TO WATCH LIST Will keep you posted BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List CRM - Stock is up slightly as it gets closer to our target of $98. Mid Cap Watch List GWRE - Stock is up slightly and a close above $80.06 would be bullish. Small Cap Watch List None at this time DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats