EB Watch List Update Report

Dear Members: Market Update: Today's action can be put into the category "could be worse." By that I mean even though the selling was very intense early on it has subsided some plus all of the major indexes remain above key technical levels. In addition the VIX popped early on but is up less than 5% so nothing showing any panic selling. The question now is this; will traders jump in on this selling like they have for so long or could the selling intensify as the day progresses and does the market flat out need a deeper correction? The S&P got as low as 2876 before bouncing so didn't even retest the 20 day, currently at 2870. So to me, as long as the 20 day holds, the market should be fine. However, should that 2870 level go we could see even more selling with the next major level of support near 2820. Bottom line at the moment is maybe a bit of nibbling here but nothing aggressive as we might see even better opportunities if we are patient. Companies reporting earnings today (September 5) Before Market Opens: None After Market Closes: None Companies reporting earnings tomorrow (September 6) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST We sent an alert out on ONDK which will be added to the Watch List if it pulls back to $7.91. 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 closed below $11.50 so is being removed from the Watch List. Deletions from Watch List CSTM At your service, John Hopkins EarningsBeats