EB Watch List Update Report

Dear Members: First, it seems like we had some email issues yesterday with my Market Update not hitting the wire until very late yesterday (or even early this morning.) Hopefully this has been resolved. In the meantime please remember that I post my update on the site as soon as it is sent out. So you can always read it online. MARKET NOTE: In my update yesterday I pointed to the fact that the market looked ready to make a decent move one way or the other, especially with the VIX elevated and a month worth of consolidation. We got a pullback yesterday and the S&P closed exactly at the 20 day moving average which it is straddling again today. So the stalling continues, just a day ahead of a much anticipated speech by Fed Chairwoman Janet Yellen tomorrow in Jackson Hole. Of course on everyone's mind; will the Fed hint at raising rates? They've been doing that for a while and might do the same tomorrow but I don't see how they raise at their next meeting in September which might or might not become apparent by tomorrow. It seems quite silly, the thought of the market worrying about a .25 rate raise. But to many it indicates a change in sentiment and the market never likes change that might work against them, even though that might not be the case. In any event, my mind hasn't changed since yesterday; we're sitting right on key technical support. The VIX remains higher than its been recently so one finger now on the sell button. So at a minimum it makes sense to go slow until we get through tomorrow's speech and see where things stand. In the meantime, should the S&P lose its 20 day, now at 2175, look for 2168 next. To the upside 2194 remains a target for the bulls. KEY EARNINGS REPORTS Companies reporting earnings today (August 25) include: BRCD, DG, DLTR, GME, MIK, SHLD and TIF Companies reporting earnings tomorrow (August 26) include: BIG ADDITIONS TO WATCH LISTS: No new additions at this time 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 DELETIONS FROM OUR WATCH LISTS: No deletions at this time At your service, John Hopkins EarningsBeats