EB Watch List Update Report

Dear Members: This is going to be an abbreviated report as I am literally in flight today. The market started out with some promise today only to revert back to the usual weakness we've seen of late. We've now in the good news means bad news for the market with traders ignoring the strong employment report in favor of dumping stocks. I would like to report the selling is nearing an end but at this point we're simply going to have to wait and see where the market lands. Right now it looks like 1920 is the next level of support on the S&P which represents the September 30 close. Rest assured all of the major indexes are technically oversold which at some point should make a difference. And at this moment we've got the NASDAQ in the red for the seventh session in a row, a very rare occurrence over many years, so we'll see if that proves to make a difference later as well. The best we might hope for at the moment is a nice reversal into the close but that might be asking for too much at the moment. I want to wish everyone a restful weekend and I will be back Monday morning with my regular EB Watch List Update report. At your service, John Hopkins