EB Watch List Update Report

Dear Members: MARKET NOTE: Right on cue the S&P needed a breather when it challenged the 2020 level yesterday and now we're seeing all of the major indexes lower. This is coming at a point where the market got a bit ahead of itself with almost no relief since the reversal off of the most recent bottom. In fact there's been little opportunity for traders to buy on dips lately because there haven't been any dips! Instead, there has been a strong bid under the market with traders reluctant to let go of their long positions. The S&P got as low as 1994 today with 1987, the 50 day moving average, now important support and a level where we could posibly see a bounce. However, if that level does not hold, 1976 is next, the 20 day moving average, and the bulls know that is a must defend level if they hope to keep their recent found momentum. To the upside the bulls will be looking to take another shot at the 2020 level knowing if they clear it that the market could go even higher. KEY EARNINGS REPORTS Earnings season is in full swing now with big names reporting in some important sectors. Companies reporting earnings today (October 14) include: BAC, BLK, DAL, NFLX, PNC, WFC and XLNX Companies reporting earnings tomorrow (October 15) include: AMD, BBT, BX, SHW, C, GS, KEY, MTB, MAT, MTG, PM, PPG, SLB, USB, UNH and WYNN ADDITIONS TO WATCH LISTS: We are going to remain patient here as the earnings season progresses and look to provide members with high reward to risk trading candidates over the next few weeks. 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 consolidating and 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