EB Watch List Update Report

Dear Members: First, I want to let everyone know that we will be having our members only Quarterly Earnings webinar next Monday, October 22, time to be determined. I will be joined by StockCharts.com's Senior Technical Analyst Tom Bowley as we look at those companies that have reported as well as some key companies that will be reporting earnings in the near future. It will be a highly educational event and we will keep you posted. Market Update Earnings season is upon us and as we begin a new trading week the NASDAQ and S&P are lower with all of the major indexes well off session lows. If the bulls are looking for a bit of good news it might be that so far all of the major indexes have put in higher lows since last week's sell off. Of course that could change but so far so good. Next, though the VIX is still much higher than we saw even a few weeks back it's also well off of the high of close to 29 on Thursday; nerves have cooled some even with the selling today. Already this morning we saw a downgrade of one of the tech darlings, Netflix, with the stock off by over 3% ahead of tomorrow's earnings report. So this is where it will start to get interesting; will NFLX prove the analysts wrong tomorrow or might they come up short? We'll find out the answer after the bell tomorrow but this is the type of information traders crave when the market is struggling. So far both the NASDAQ and S&P are back below all key technical levels; when stocks/indexes break down it takes a leap of faith to get involved on the long side. So first things first; at a minimum the S&P needs to close back above its 200 day, currently at 2766, to have any shot at advancing higher. It got as low as 2710 last Thursday, a level the bulls know they must hold or possibly face further selling. And it would help immensely if he NASDAQ closed back above its 200 day, currently at 7505 because it's going to be much more difficult for the market to advance if tech stocks continue to fall. Let's remember that when everything is said and done it's always about the bottom line so the next few weeks really are important. Companies reporting earnings today (October 15) Before Market Opens: BAC After Market Closes None Companies reporting earnings tomorrow (October 16) Before Market Opens: BLK, CMA, DPZ, GWW, JBHT, INFY, JNJ, MBWM, MS, PGR and UNH After Market Closes: ADTN, CREE, CSX, HWC, IBM, LRCX, NFLX, PNFP and UAL ADDITIONS TO WATCH First, please note that we will be updating the Candidate Tracker leading into our Quarterly Earnings webinar next week. Will keep you posted on any additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List CLDR - Stock is lower by 2.75% as it struggles to regain footing. Right now the stop is any close below $15.25. That could change and if it does we will keep you posted. OKTA - Stock is higher by 1% and a close above Friday's high of $58.80 would be bullish. AEO - Stock is higher by 1% and a close above $21.58 would be bullish. Small Cap Watch List SCVL - Stock is fairly flat and off the high of the day. Would like to minimally close above Friday's close of $38.62. EXPR - Stock made a decent move early in the session only to pull back. $8.81 is a key level of resistance and a close above that level would be very bullish. Deletions from Watch List None At your service, John Hopkins EarningsBeats