EB Watch List Update Report

Dear Members: First, please note that I have added a new Behavior Modification Case Study to my blog which you can find on our site. MARKET NOTE: The market has been on fire lately, to the point where it has become technically overbought. It even started out on a positive note this morning though now all of the major indexes are in negative territory. Lately when we've seen any selling traders are ready to step right back in to buy up shares. But when stochastics are in the mid 90's with an RSI of 70 on all of the major indexes, it gets tougher to justify getting aggressive to the long side. And historically this is one of the best market weeks of the year; we saw that the past few sessions. So perhaps we need some additional selling here for traders to feel like they can get some better bargains. Having said that, the appetite for stocks has been extremely strong lately so the bulls will want to see if they can hold 2100 on the S&P. If that goes we might see 2080 come in to play. To the upside yesterday's high of 2116 is now near term resistance. KEY EARNINGS REPORTS Companies reporting earnings today (November 4) include: ALB, AGN, CHK, CTSH, CSC, FB, GDDY, HSIC, LMCA, MRO, MET, MSI, NRG, PRU, QCOM, RNR, TWX, RIG and WFM Companies reporting earnings tomorrow (November 5) include: ACAD, ADS.DE, AES, AGU.TO, APA, CELG, DUK, KHC, MSG, MHK, TAP, NWSA, NVDA, RL, RRS.L, SWKS, GLE.PA, STWD, SYMC, VC and DIS ADDITIONS TO WATCH LISTS: We'll continue to hold off adding any stocks today as the market is stretched at the moment. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List FLEX - Stock is holding up nicely relative to today's overall market. Mid Cap Watch List There are no mid cap stocks on the Watch List at this time Small Cap Watch List PLAY - Stock flat for the day and a close back above $39.91 would be bullish. SWHC - Stock is flat and a close back above $18.19 would put it in good technical shape. VRA - Stock is down slightly and a close above $12.64 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