EB Watch List Update Report

Dear Members: Market Update: It's interesting that both the Dow and S&P are both overbought and green while the NASDAQ is not overbought but is red. This is an appropriate picture at the moment with blue chips in vogue while tech stocks continue to be avoided. The recent rotation shows that traders are shying away from too much risk while betting on stocks that might hold up better on any selling. For sure the Dow is stretched here; there's been non-stop buying for almost two weeks now. So a pullback at this point would be healthy. It will be interesting to see if tech stocks start to catch a bid. If so that could help keep the recent rally going. With the Dow so stretched and the NASDAQ showing signs of weakness this is a good time to go slow. If we do get a pullback we could see some bargain hunting on stocks that have not participated in the recent rally and that could be seen as good alternatives to those stocks that have taken the market higher. In the meantime, the S&P got as high as 2941 today which is now resistance. To the downside the bulls will do their best to hold the line at 2900 on any selling. Companies reporting earnings today (September 21) Before Market Opens: None After Market Closes: None Companies reporting earnings Monday (September 24) Before Market Opens: None After Market Closes: None ADDITIONS TO WATCH LIST Will keep you 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 VRNT - Stock is off its high of the day when it had climbed back above its 20 day moving average. A close above $48 would be very bullish. Small Cap Watch List TLYS - Stock is back above all key technical levels and any close above back $19 would be bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats