EB Watch List Update Report

Dear Members: Good morning! Market Update: I'm going to be out of the office later today so am providing a brief and early update this morning. The market could get off to a positive start as the bulls try to keep the rally of late going. We could be at a near term "do or die" moment; probably not so dramatic but two key levels approaching; 8048 on the NASDAQ and 2946 on the S&P, both representing respective 50 day moving averages. These levels are important since the bulls have been unable to climb above since the beginning of the month which has kept traders from getting overly aggressive. And it's one of the reasons we have held off on trade alerts; the market hasn't gone anywhere recently. So these are the levels we are keeping an eye on to see if the bulls can build on the recent momentum. In the meantime let's see if the 20 day on the S&P, currently at 2918, holds on any selling. If it doesn't then the technical advantage remains with the bears. Companies reporting earnings today (August 22) Before Market Opens: WUBA, BJ, CM, DKS, HRL and TTC After Market Closes GPS, HPQ, INTU, ROST, CRM and VMW Companies reporting earnings tomorrow (August 23) Before Market Opens: FL After Market Closes: None STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST Top 10 Stock Pick Portfolios are off to a strong start. We will be updating performance each week and will keep you posted. We will continue to be very selective on individual trade alerts and we 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 Medium Cap Watch List None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats.com