EB Watch List Update Report

Dear Members: Market Update: We're into a new trading day, week and month and already volatility has picked up with the VIX higher by 5% after pulling back from an earlier high of 14.35, the highest level in over two weeks as traders remember the month of September has begun. Just a few trading days ago both the NASDAQ and S&P reached all time highs and became technically overbought. So the selling we've seen the past few sessions is not surprising. Worth noting is the market has already moved off of the day's lows and all of the major indexes remain above all key technical levels. So the selling has been quite orderly, at least so far. Also worth noting is the NASDAQ in particular remains technically overbought; additional selling would actually be healthy. The S&P got as high as 2916 last week so that is now key resistance. To the downside the next key level of support is the 20 day moving average, currently at 2868 so these are the levels we should keep an eye on as the day and week develops. Companies reporting earnings today (September 4) Before Market Opens: None After Market Closes: None Companies reporting earnings tomorrow (September 5) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Will keep members posted on any new additions to the Watch List 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 consolidating just below its 50 day moving average. As a reminder if the stock closes below $11.50 it will be removed from the Watch List and any close above the 20 day, currently at $11.75, could help to get the stock back on track. LZB - Stock moved below the INTRA DAY move below $32.50 so is being removed from the Watch List. At your service, John Hopkins EarningsBeats