EB Watch List Update Report

Dear Members: MARKET NOTE: The market is higher today but the S&P is starting to look a bit "long in the tooth." Earlier in the day it completed the round trip from a double bottom near 1860 to the level it got to immediately after the Fed announcement near 2020. The good news for the bulls is all of the major indexes are back above both their respective 20 and 50 day moving averages though the NASDAQ is barely above as blue chips remain the stocks of choice. But the S&P has climbed 8% since the most recent low setting up the possibility of at least some type of pullback here. This could serve us well as we move into next week and when tons of companies will be reporting earnings. If we do see some selling the first level of defense on the S&P will be the 50 day moving average, now at 1992. If that happens we'll see if traders remain bullish and are willing to buy on the dip. And if traders continue to remain bullish here the next target could be close to 2060, currently the 200 day moving average. In my opinion, some relief after the recent move higher would be a plus. KEY EARNINGS REPORTS Companies reporting earnings today (October 9) include: There are no key earnings reports due out today Companies reporting earnings Monday (October 12) include: There are no key earnings reports due out on Monday ADDITIONS TO WATCH LISTS: Earnings season will start to move into high gear starting next week. This should provide us with some fresh trading opportunities. 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 There are no mid cap stocks on the Watch List at this time Small Cap Watch List VRA - Stock is not participating in rally today. It would be better if the stock closes back above $12.75 by day's end. 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 weekend and I will be back with my EB Watch List Update report on Monday. At your service, John Hopkins, EarningsBeats