EB Watch List Update Report

Dear Members: First, please note that I have posted a new Behavior Modification Case Study that you can find under my blog on the site. MARKET NOTE: The market continues to inch its way higher today with the bulls hoping to clear the September high of 2020.86 on the S&P. For sure there is a bid underneath the market with any selling resulting in willing buyers. So a nice shift from what we had been seeing before the most recent lows on the major indexes. Interestingly, stochastics on all of the major indexes are in the mid to upper 90's but so far the RSI's have not gotten to levels that would show the market is technically overbought. So we've gone from no one wanting to touch stocks to getting near very overbought. Fear has certainly been reduced with the VIX now below all key technical levels. We've gone from just over 50 on flash crash day to 16, quite a shift in sentiment. Oil has perked back up after heavy selling yesterday. So a positive sign for the energy sector which at the moment is also positive for the overall market. If the S&P can close above that 2020 level then 2034 would be the next target. To the downside we'll want to watch and see if 2000 holds on any selling. KEY EARNINGS REPORTS We had a few heavyweights report their earnings this morning; JNJ and JPM with both of them fairly flat. After the bell we'll hear from Intel, an important report for the tech sector. Companies reporting earnings today (October 13) include: CSX, FAST, HSG, INTC, JNJ, JPM, KMI, LVS Companies reporting earnings tomorrow (October 14) include: BAC, BLK, DAL, NFLX, PNC, WFC and XLNX ADDITIONS TO WATCH LISTS: Earnings season is getting ready to heat up and will continue in high gear for the next three weeks which will let us start replenishing our Candidate Tracker with those companies that beat earnings and have solid charts and we'll be scanning for the highest reward to risk trading candidates. 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 higher and back above all key technical levels. A close above $13.15 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