EB Watch List Update Report

Dear Members: MARKET NOTE: Friday was one of those days that can heap frustration upon traders. After Fed Chairwoman Janet Yellen's remarks at Jackson Hole were released the market responded positively. Shortly thereafter Fed Vice Chair Stanley Fischer added fuel to the interest rate debate fire with the market softening. But by day's end the market had settled down with follow through today and all of the major indexes higher. The S&P has continued to remain above its 20 day moving average for almost two months now. But its been stuck in stall mode for a month. So we're seeing major consolidation that can be argued favors the bulls. The VIX moved from extreme complacency to increased concern at the end of last week and today is down almost 5%. So you can see that traders aren't quite as confident as they were a week ago; they're not sure which direction the next big move will be in the market. We can drill this down in a way that helps us see the current range on the S&P which is 1993 to the upside (most recent high) and 2150 to the downside. So still not enough reward (higher) to risk to get aggressive here. Thus, for the moment, I'm going to remain in the very boring cautious mode. Hopefully we'll see some resolution to this lengthy consolidation phase sometime soon which will give us a much better shot at making some successful, profitable trades. KEY EARNINGS REPORTS Companies reporting earnings today (August 29) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (August 30) include: ANF, HRB, ADDITIONS TO WATCH LISTS: Will let you know if are 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 DELETIONS FROM OUR WATCH LISTS: No deletions at this time At your service, John Hopkins EarningsBeats