EB Watch List Update Report

Dear Members: MARKET NOTE: So, what's going on today? We saw the jobs report come up short on jobs added, yet the unemployment rate fell to 5.1%. At the same time, the July report was revised to show more jobs created than originally reported. The low unemployment rate has a lot of analysts saying the Fed will most definitely raise rates in September. Yet if you look at the ten year treasury note you will see the yield is lower this morning which indicates the Fed won't be raising rates. On the one hand, if the Fed were to raise rates it would be based on their belief the economy was strengthening. On the other hand, if they don't raise, it sends a signal that the economy continues to struggle. All of this combined leaving traders confused with all of the major indexes lower ahead of the long holiday weekend. How fearful are traders this morning? The VIX is up over 6%, currently near 27, but WAY below the most recent high over 53. So still showing concern but nowhere near the level when the market was in full panic mode. It's much too early to tell where the market will be by day's end but so far the S&P is holding above the low of 1903 from earlier in the week. Any reversal to the upside by day's end would be positive but let's remember that all of the major indexes remain well below key technical levels. So we could be trading in a weak range for a while, and maybe leading up to the Fed's rate decision the week after next. Thus, we will continue to tread lightly here. KEY EARNINGS REPORTS Companies reporting earnings today (September 4) include: There are no key earnings reports due out today Companies reporting earnings Tuesday (September 8) include: KFY, and MW ADDITIONS TO WATCH LISTS: No additions today BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List AMZN - Stock continues to hold its 50 day moving average and a close back above its 20 day, now at $507, would be bullish. LEN - Stock could use some more volume and a close above $51.83 would be bullish. Mid Cap Watch List NUVA - Stock is so far holding its 50 day moving average and a close above $52.30 would be bullish. Small Cap Watch List KFY - Just a reminder that we removed KFY from our Watch List yesterday. Also a reminder that they will report their earnings after the bell next Tuesday. RUBI - Stock fairly flat and a close back above the 20 day, now at $14.92, would be bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. I want to wish everyone a restful holiday weekend and I will be back Tuesday morning with my EB Watch List Update report. At your service, John Hopkins, EarningsBeats