EB Watch List Update Report

Dear Members: Market Update The bulls have been hoping for a few strong up days in a row and so far so good with all of the major indexes substantially higher. The move higher is being led by tech stocks after Facebook's earnings report after the bell yesterday was good enough to get some traders off the sidelines. The VIX is lower by 5% - a bit surprising that it's not even lower - as the bulls exhale after the recent, relentless selling all the way around. So, does this mean the market is now out of the woods? I don't think so. It is possible we'll see a few days of relief but both the NASDAQ and S&P remain below all key technical levels with only the Dow trying to slip back above its 200 day. If we do get some follow through relief here we could see the S&P challenge its 200 day moving average, currently at 2765. But nerves are still a bit raw and any indication that this move higher is temporary could send traders scrambling for the exits. Two things to keep an eye on as we get ready to exit October and move into November. First, Apple will report its earnings after the bell tomorrow night. That's a big deal as AAPL is the largest market cap company in the world. Next we'll get the monthly jobs report on Friday, arguably the most important economic report of every month. So the combination of the reaction to AAPL's earnings and the jobs report could most definitely set the stage for more gains or a resumption of selling. To keep things in perspective here, remember how tough it was for the bears to make a dent when the bulls had total control of the action. Now we've got the opposite going on with the bulls struggling to regain their lost momentum. That won't come easy, not with traders continuing to have 1-2 fingers on the sell button just in case the mini rally of the past two sessions comes to a sudden halt. Companies reporting earnings today (October 30) Before Market Opens: AC, ANTM, ADP, BAX, CG, CHK, CVEO, CLX, DX, EL, GRMN, GM, GNC, HES, ICE, IGT, K, TAP, OMI, RDN, SC, SPAR, S, UTHR, WD and YUM After Market Closes ALG, ALL, AIG, APA, CF, CHDN, ESRX, STAY, FRT, FISV, FIT, FORM, RYN, RGLD, SU and WMB Companies reporting earnings tomorrow (November 1) Before Market Opens: FLWS, AVP, BLL, CI, D, DWDP, EXC, HBI, TREE, MSG, MPC, NYT, PH, PENN, PBI, RDS.A, BID, SPOT, SSYS, TEVA, W and WYND After Market Closes: Y, MDRX, AAPL, ATHN, CBS, CRUS, ED, FICO, FLR, HST, KHC, LNC, MET, MSI, SHAK, SBUX, SYMC, TRMB, X, WTW and WU ADDITIONS TO WATCH 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 WSM - Stock is giving up some of yesterday's gains as traders turn their focus to other beaten down stocks. The stock closed above its 20 day moving average yesterday but has now dipped below. It would be best if it can close back above that level, currently at $59.70 or it could pull back even more. Small Cap Watch List QNST - Stock hit our price target of $14.60 so is being removed from the Watch List. Great trade! Deletions from Watch List QNST At your service, John Hopkins EarningsBeats