EB Watch List Update Report

Dear Members: MARKET NOTE: The market apparently needed a breather which is what we are seeing today. The NASDAQ in particular needed a time out after its 250 point climb since the most recent bottom. The S&P at its low of the day touched its 50 day moving average at 2169 and held. But it continues to struggle mightily to get back to its all time high of 2193. Now that the Fed rate announcement has been absorbed traders are immediately asking the question, what's next? Earnings season won't kick in for a few more weeks. Perhaps the first presidential debate on Monday will get traders thinking. Certainly nothing about today's selling has been alarming. Quite orderly, in fact. The VIX is flat as a pancake and remains below all key technical levels. So whatever fear existed over the past few weeks is long gone. This could indicate the market is back to consolidation mode; the Dow and S&P certainly seem to be. The NASDAQ is the clear powerhouse at the moment, but what can take it higher? Momentum is a powerful thing but at some point there needs to be some substance in order to power the market higher. The story remains the same for the S&P; 2193 to the upside and 2120 to the downside. If 2169 goes then the next stop would be the 20 day, now at 2159. In the meantime it's still a stock pickers market as traders continue to look for those diamonds in the rough. KEY EARNINGS REPORTS Companies reporting earnings today (September 23) include: There are no key earnings reports due out today Companies reporting earnings Monday (September 26) include: CCL, SNK and MTN ADDITIONS TO WATCH LISTS: We added LCI as a long alert yesterday with some comments shown below. 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 bucking the trend today with another higher high but has pulled back some. Would like to see a close above $64.16 which would keep our price target of $65 in range. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List LCI - Stock made a decent move higher in the session before pulling back some. It's got more work to do here but a green candle by day's might indicate the worst of the selling is over. Got to start somewhere. DELETIONS FROM OUR WATCH LISTS: None at this time. I want to wish everyone a restful weekend and I will be back Monday morning with my EB Watch List Update Report. At your service, John Hopkins EarningsBeats