EB Watch List Update Report

Dear Members: Market Update: Both the Dow and S&P had gotten overbought and today we're seeing some normal profit taking with all of the major indexes lower as we begin a new trading day and week. Though the selling is nothing out of the ordinary the VIX is higher by almost 10%; there's always a group of naysayers who have one finger on the sell button in case selling intensifies. Even though blue chips are leading the move lower today it's the tech sector that continues to struggle the most even though the NASDAQ is well off its session lows. So far its held its 50 day moving average but it wouldn't take much for that to change which could lead traders to getting even more defensive. Later in the week the Fed will make its interest rate announcement with the market looking for them to increase by .25. As usual the accompanying statement could impact the market more than the actual raise itself. So far nothing today suggest a big bout of selling is near with the first level of support just below 2900 on the S&P. To the upside we saw the S&P get as high as 2941 on Friday so that is now resistance. Companies reporting earnings today (September 24) Before Market Opens: None After Market Closes: None Companies reporting earnings tomorrow (September 25) Before Market Opens: JBL and MANU After Market Closes: KBH and NKE ADDITIONS TO WATCH LIST We added CREE to the Watch List Friday but it moved below our Intra Day stop of $39.80 so will be removed from the Watch List. We also added ONDK to the Watch List this morning with additional details below. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List VRNT - Stock is up slightly and a close above $49.10 would be very bullish. Small Cap Watch List TLYS - Stock is lower by 1.5% and any close above back $19 would be bullish. ONDK - We added this stock to the Watch List this morning at an entry price of $7.12 with a price target of $8.20 and a stop of any CLOSE below $6.90. A close back above $7.35 would be bullish. Deletions from Watch List CREE At your service, John Hopkins EarningsBeats