EB Watch List Update Report

Dear Members: MARKET NOTE: The Fed has come and gone with the initial reaction quite positive and then heavy selling like we are seeing this morning. It's why we like to lay low in front of such big events since no one really knows how the market might respond. BUT...the market has now had the chance to absorb the Fed's decision to leave rates alone so that is no longer going to dominate the headlines in the near term. And, though traders might be worried that the Fed decided to hold pat because economic conditions remain challenged, once the smoke clears the market might cheer the fact that rates remain low in the near term, which could be positive for stocks. In the meantime, all of the major indexes are at or below all key technical levels, so just like that, the bears have reasserted themselves back into the picture. Now the bulls need to hold 1950, which I believe they will, on the S&P with 1978 a level to clear to regain at least some technical advantage. KEY EARNINGS REPORTS Companies reporting earnings today (September 18) include: There are no key earnings reports due out today Companies reporting earnings Monday (September 21) include: LEN and RHAT ADDITIONS TO WATCH LISTS: We are adding DYNAVAX Technologies (DVAX) to our small cap Watch List at the current price (at time of email) of $30.77. Other details, including second entry, price target and stop loss will be provided later today and the chart will be added to our site. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List AMZN - Stock is showing strength today while the market falters. Would be bullish if closed above yesterday's high of 546. LEN - PLEASE NOTE: LEN reports earnings Monday before the bell so it will be removed from our Watch List at the close today. Mid Cap Watch List NUVA - Stock continues to hold up well relative to the overall market and a close above yesterday's close of $55.23 would be bullish. Small Cap Watch List RUBI - Stock is going against the grain today working hard to stay back above its 20 day moving average and a close above its 50 day moving average, now at $15.42, would be bullish. DELETIONS FROM OUR WATCH LISTS: LEN will be removed from the Watch List at the close today as they are reporting earnings on Monday. There are no other deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats