EB Watch List Update Report

Dear Members: MARKET NOTE: Let's examine what's going on today as we move deeper into September and with the three day holiday weekend behind us. First, the S&P remains in consolidation mode. Yes, it's back above all key technical levels, but it's well below the most recent double top at 2193. Also, at its low today, it touched its 20 day moving average, successfully holding, and only keeping it in going nowhere mode. For sure tech stocks are leading the move higher today, now within easy striking range of its all time high of 5275. What else is going on today? We got another weaker than expected economic report with the ISM services number well short of expectations. This has led to lower yields on government bonds as traders are back to feeling the Fed will hold off raising rates when they meet in two weeks. The VIX is up over 3% today but still remains below all of its key technical levels. So technically its bullish. Additional good news for the bulls today; none of the major indexes is technically overbought. All of this positive considering September has the dubious reputation of being the worst performing month of the year! IF tech stocks are going to lead the market even higher then they need to clear the 5276 level. A stall there could indicate a double top. So why it might not "feel" like the market can stall here it can. So let's see what develops as the day progresses and if the bulls can keep the momentum. KEY EARNINGS REPORTS Companies reporting earnings today (September 6) include: PLAY and MRVL Companies reporting earnings Tuesday (September 7) include: HPE ADDITIONS TO WATCH LISTS: PLEASE NOTE: We added 100 stocks to the Candidate Tracker that are now available to all members on the site. Some of these could become active trade alerts via email. Going to watch the afternoon action to see if the NASDAQ can build some additional steam and clear its all time high or if it stalls which would make it tough to get aggressive to the long side here. 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