EB Watch List Update Report

Dear Members: First, please note that we posted a new article under Tom Bowley's blog on the site. It's very timely given the pending Fed rate decision. MARKET NOTE: Yesterday's move higher and today's follow through is a positive development ahead of the Fed rate announcement. At the same time there's simply no telling how the market will react to the Fed's decision and announcement. It's much like an earnings report; a 50-50 proposition on how traders will react to the news. The good news for the bulls is all of the major indexes are above their respective 20 day moving averages. This is a positive development and especially if the recent gains can hold once the announcement is made. But we still need to get through tomorrow and should look for continued volatility over the next few days. KEY EARNINGS REPORTS Companies reporting earnings today (September 16) include: CBRL, FDX and ORCL Companies reporting earnings tomorrow (September 17) include: ADBE and RAD ADDITIONS TO WATCH LISTS: We have been extremely patient of late and for good reasons. Only today are we seeing some technical strength for the first time since the market fell hard back on August 24. So waiting one more day until the Fed decision is out of the way makes a lot of sense as there will be plenty of great opportunities if the market strengthens or if there is a pullback. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List AMZN - Stock continues to hold up quite well relative to the overall market. A close above $535 would be bullish. LEN - Stock remains above all key technical levels. A close above $53.45 would be bullish. Mid Cap Watch List NUVA - Stock is consolidating after the strong move higher on Friday and a close above $54.05 would be bullish. Small Cap Watch List RUBI - Stock is back above its 20 day moving average and a close above $15.06 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. At your service, John Hopkins, EarningsBeats