EB Watch List Update Report

Dear Members: Market Update: A near term moment of truth has arrived with the S&P touching its 20 day moving average for the first time in 3 weeks with the NASDAQ dipping below its 20 day and with traders now more comfortable owning blue chip stocks. This is all taking place as the VIX moves back above all key technical levels as traders nerves are tested. The S&P hasn't really spent any time beneath its 20 day in over two months, only very briefly three weeks ago on August 15, when the market held and proceeded to reach new highs before the recent selling kicked in. So purely from a technical perspective the market is quite vulnerable. This is where the moment of truth takes center stage; will the bulls assert themselves once again with buyers jumping in on the pullback or will the bears actually regain the momentum for the first time in a few months? Since tech stocks have been market leaders for a long time we should take a close look at the NASDAQ with the next key level of support down near the 50 day, currently at 7817. It might never retreat to that level but it also might come into play should traders get even more defensive. As usual the close is more important than Intra Day action. So let's see if the S&P holds that 2870 level and continue to remain cautious for the moment. Companies reporting earnings today (September 6) Before Market Opens: None After Market Closes: None Companies reporting earnings tomorrow (September 7) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST We sent an alert out on STAY this morning with additional information below. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List STAY - Stock was added this morning at an entry price of $19.72 with a price target of $21 and a stop of any CLOSE below the 200 day moving average, currently at $19.63. Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats