EB Watch List Update Report

Dear Members.

Good morning!

I wanted to let everyone know this will be my last EB Watch List Update Report with Tom Bowley getting ready to provide his comprehensive Daily Market Report (DMR) to members starting next Monday. While Tom's duties as Chief Market Strategist at EarningsBeats.com will begin on Monday he will continue transitioning from StockCharts.com through month end and we look forward to a smooth process but appreciate your patience over the next few weeks. Exciting!

Market Update:

The bulls don't feel like turning the momentum over to the bears with the Dow and S&P higher with the NASDAQ slightly lower. Over the course of 10 days traders have gone from being quite nervous to being much less worried with the VIX being at its lowest level since the end of July. Making this rally of late more impressive is it's taking place in September. But, there's still a lot of time left in what has historically been a rough period for stocks. None of the major indexes are "officially" technically overbought though Stochastics are 97 on the S&P showing a pullback might not be so bad. But something positive started developing this morning with the 20 day moving average crossing back above the 50 day on the S&P, generally a bullish sign. Ditto on the Dow. So far the NASDAQ has continued to lag the broader market; if traders suddenly decided to put more capital into tech stocks that could be a catalyst for the overall market to move higher. The S&P remains one minor run from getting back to its all time high of 3027. It's often tough to climb above an all time high the first time around. And with the S&P already stretched some it could be more difficult. But if the bulls somehow find a way to clear that 3027 level it's hard to say what might come next. To the downside the 2950 level is now a very important technical level to hold should we see any sudden selling.

Companies reporting earnings today (September 13)

Before Market Opens:

None

After Market Closes

None

Companies reporting earnings Monday (September 16)

Before Market Opens:

None

After Market Closes:

None

STRONG EARNINGS CHARTLIST/TOP 10 STOCK PICK PORTFOLIOS/ADDITIONS TO WATCH LIST

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

CECO - Stock is higher by 1.6%. I have noticed the 20 day moving average converging on the 50 day from above and a cross below could be bearish. Stock really needs to clear its 20 moving average currently at $20.25, which would be bullish. We'll keep our stop at any CLOSE below $19 and it that changes we will let you know.

Deletions from Watch List

None

At your service,

John Hopkins

EarningsBeats.com Better Timing. Better Trades.