EB Watch List Update Report

Dear Members: MARKET NOTE: The tech rally continues with a bifurcated market as the Dow and S&P lag, both remaining below key technical levels as traders shy away from blue chips and non-tech related stocks. The NASDAQ got within six points of its all time high before profit taking kicked in. This is making it difficult for the overall market to make any progress. The VIX is down slightly as fear has subsided some since its recent high but it remains above both its 20 and 50 day moving averages; traders aren't in no fear mode like they were a few weeks ago. Of course this is Fed week when we'll finally learn if rates will be raised. The consensus says no but there is still some nervousness that they might surprise the market which to me is not very likely. The strong performance in the NASDAQ makes it hard to be too bearish. On the other hand in looking at the Dow and S&P its tough to get too bullish. This mixed picture is keeping a lot of traders on the sidelines, and I can understand why; too much uncertainty at this exact moment. My confidence might increase if the Dow and S&P can recapture their respective 20 and 50 day moving averages. In the case of the S&P that would be a close above 2168. To the downside the S&P has held 2120 numerous times so that is clearly an important level of support. KEY EARNINGS REPORTS Companies reporting earnings today (September 19) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (September 20) include: ADBE, CCL, FDX and LEN ADDITIONS TO WATCH LISTS: Will keep you posted if I spot something that is worth taking a risk on. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List ROST - Stock is back above all key technical levels. If it holds here the next level of resistance is $62.75. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats