EB Watch List Update Report

Dear Members: MARKET NOTE: The overbought conditions have finally caught up with the market with all of the major indexes lower. The S&P has slipped back below 2100 intra day while the bulls are trying to hold 5100 on the S&P knowing a close below that level could result in additional selling. All of this is going on ahead of Friday's non-farm payroll report and with traders now shifting their thinking that the Fed could indeed raise rates at their December meeting. Lately we've seen consistent buying on the dips so traders are getting another opportunity to do so. But if traders start to believe the recent rally has mostly run its course they might be a little more cautious. At this point the next level of support on the S&P is near 2080. And the bulls would love nothing more than to see the S&P climb back above 2100 by day's end. But that level is now resistance so we'll have to see if the bulls have anything left in the tank to get back above that mark. KEY EARNINGS REPORTS Companies reporting earnings today (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 Companies reporting earnings tomorrow (November 6) include: CI and HUM ADDITIONS TO WATCH LISTS: We'll continue to hold off adding any stocks with the market possibly losing some steam here BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List FLEX - Stock continues to hold up nicely relative to the weak market today. Mid Cap Watch List There are no mid cap stocks on the Watch List at this time Small Cap Watch List PLAY - Stock is down some and we would like to see it close back above $39.09. SWHC - Stock hit our second entry level of $17.25 and we would like to see it close back above today's openj of $17.60. VRA - Stock is fairly flat and a close above $12.71 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