EB Watch List Update Report

Dear Members: Market Update: On the surface it looks like a very weak start to a new trading day and week. But underneath the surface there are some major tech stocks that are down 1-2% which is taking its toll on the NASDAQ while the Dow is flat and the S&P continues to hang out not too far from its all time high. So we've got two of the three major indexes in pretty good shape while the NASDAQ is having some technical difficulty, primarily due to a handful of large market cap stocks. If you look at the VIX it's higher by just over 5% but still below all key technical levels, favoring the bulls. We're right in the middle of September, a month with a history of being rough on traders. And if selling picks up on the NASDAQ that could have a negative impact on the overall market. But it's too early to count the bulls out here; one decent burst upward could take the S&P back to its all time high. Bottom line: As long as the selling on the NASDAQ is contained the market should be fine here. However, if traders decide in unison to start unloading tech stocks, it will be difficult for the overall market to make much progress. Companies reporting earnings today (September 17) Before Market Opens: None After Market Closes: CHKE and FDX Companies reporting earnings tomorrow (September 18) Before Market Opens: AZO, CBRL and GIS After Market Closes: None ADDITIONS TO WATCH LIST Will keep members posted on any new trade alerts BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List STAY - Stock continues to consolidate and a close back above $20 would be bullish. Also keep in mind that if the stock closes below its 200 day, currently at $19.75, it will be removed from the Watch List. WSM - Stock moved below the Intra Day stop of $67 so is being removed from the Watch List. Small Cap Watch List TLYS - Stock is lower by just 1.9%. As a reminder we have a second entry on any pullback to $18 and with a price target of $25 and a stop of any CLOSE below $17.50. Deletions from Watch List WSM At your service, John Hopkins EarningsBeats