EB Watch List Update Report

MARKET NOTE: Dear Members: Yesterday both the S&P and NASDAQ visited support levels and held. In the case of the S&P it moved down to its 20 day moving average and the NASDAQ dipped just below 5200 before buyers came in. Now today both the S&P and NASDAQ are higher while the Dow is down slightly. The move lower yesterday and the recovery today come after the Fed released its minutes from the last meeting with differing opinions; some on the Fed committee want to raise rates now while others want to see additional economic reports before making any decision. While the VIX spiked during yesterday's selling its now back below all key technical levels with traders being more comfortable today than just one day earlier. We still have options squaring going on though the selling yesterday did spook those holding puts. You can expect continued volatility through tomorrow when options expire at the market close. At the moment the range on the S&P is 2193 to the upside and 2172 to the downside. It's pretty much in the middle of that range now. To me there's not much to do right now; I think the market is vulnerable to more selling here; I'd like to get stocks cheaper. KEY EARNINGS REPORTS Companies reporting earnings today (August 18) include: AMAT, GPS, HRL, ROST, TTC and WMT Companies reporting earnings tomorrow (August 19) include: AMLP, DE, FL and MSG ADDITIONS TO WATCH LISTS: Will keep members posted on any new additions to the Watch List BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List There are no Mid 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 HAWK - Stock is flat as a pancake. Going to give it another day or two to see if it makes a move higher and if not may remove from the Watch List. CIEN - Stock is up slightly. Will need to close back above $21.88 to get back on an upward track. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats