EB Watch List Update Report

Dear Members: First, please note that Tom Bowley has posted a new article under his blog on our site that covers Seasonal Trends for October; a MUST read! MARKET NOTE: A continuation of much of the same we have seen of late with the bulls having a tough time holding any gains. There's no specific reason for the selling today except traders continue to shy away from buying stocks. The NASDAQ in particular continues to show a great deal of weakness after having led the market higher earlier in the year. It's not helping that Bio-Tech stocks continue to fall. The attempted move higher on Friday that was thwarted by day's end saw the S&P get close to its 20 day moving average but ultimately failing to clear that important technical level. Now the 50 day moving average on the NASDAQ has moved below the 200 day for the first time since the end of 2012. The silver lining for the bulls is when that last happened back in 2012 it didn't last long and instead served as a launching pad for the NASDAQ to hit an all time high two and a half years later. So this is an important level for the bulls to hold or risk further selling with the S&P dipping slightly below the September 1 low earlier in the session. Bottom line here is the bulls don't have much room to work with before being vulnerable to a full retest of the August 24 lows. KEY EARNINGS REPORTS Companies reporting earnings today (September 28) include: SNX and MTN Companies reporting earnings tomorrow (September 29) include: COST ADDITIONS TO WATCH LISTS: No additions at this moment as the market continues to remain vulnerable to further selling BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List There are no large cap stocks on the Watch List at this time Mid Cap Watch List NUVA - Stock has lost its luster the past few sessions and has fallen below both its 20 and 50 day moving averages. If it closes below $49 it will be removed from the Watch List. Small Cap Watch List RUBI - We will maintain our closing stop of $13.86. If the stock closes below that level it will be removed from the Watch List. VRA - Stock has hit our second entry of $12.55 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