EB Watch List Update Report

Dear Members:. Market Update: Yesterday's all time high on the S&P was short-lived with the bulls hoping to get back on track sooner rather than later. It's not hurting that Lowes is up almost 10% while Target is up almost 6% showing strength in the important retail sector. Though traders were showing some nervousness last week that's not the case today with the VIX down over 5% as it moves back below all key technical levels. This comes as the market awaits the minutes from the most recent FOMC meeting which will come out later this afternoon with traders most interested in what the Fed has to say about rates. Yesterday's all time high on the S&P just above 2873 is now the new bar to the upside with support now near 2830. Remember that it usually takes more than one try to crack an important level and there's a decent chance the bulls will try to take out that 2873 level in the near future. But it makes sense to wait and see if they are successful before getting more aggressive as we saw yesterday how quickly the brakes were applied as attempt one to make further progress stalled. Companies reporting earnings today (August 22) Before Market Opens: ADI, BNED, LOW and TGT After Market Closes: None Companies reporting earnings tomorrow (August 23) Before Market Opens: BABA, HRL and TTC After Market Closes: GPS, HPQ and INTU ADDITIONS TO WATCH LIST We added WGO to the Watch List yesterday with additional information below BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List CSTM - Stock is flat as it moves into consolidation mode. A close above the 200 day, currently at $11.81, would be bullish. WGO - We added this stock to the Watch List yesterday at an initial entry price of $37.42 with a second entry on any pullback to $36.30 with a price target of $40.85 and a stop of any INTRA DAY move below $36. Deletions from Watch List None At your service, John Hopkins EarningsBeats