EB Watch List Update Report

Dear Members: MARKET NOTE: The initial positive response to Monday's presidential debate has waned some with all of the major indexes lower. Right on cue both the Dow and S&P moved below their respective 20 and 50 day moving averages as traders once again took advantage of yesterday's move higher to take profits. The NASDAQ is not immune from the selling today though it easily remains the strongest of the major indexes. In fact its a full 30 points from its 20 day moving average as it remains technically superior to the Dow and S&P. The VIX is up a few percent but no panic is evident. So is today going to be seen as a buying opportunity or will traders continue to sell some of their positions? It shouldn't be lost on traders that the yield on the ten year treasury note has fallen 25 basis points since its most recent high; it's back to 1.50% as the market comes to the conclusion that the Fed won't be raising rates anytime soon. It should also be noted that the S&P is back into consolidation mode but this time it's at a lower level than what we saw from mid July through early September. At present we've got a range of 2168 to the upside and 2120 to the downside. Since the S&P is back below both its 20 and 50 day moving averages it makes sense to go easy here. KEY EARNINGS REPORTS Companies reporting earnings today (September 28) include: BB.TO, PAYX and WOR Companies reporting earnings tomorrow (September 29) include: ACN, CAG, COST and PEP ADDITIONS TO WATCH LISTS: Will keep you posted via email on any new trading alerts 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 down 1.3% as it continues to negotiate that $64.60 level. It's likely to go lower if the market continues selling today. First technical level of support is $62.96. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List LCI - Stock is down almost 2%. As a reminder we have a stop loss of $28 so if it closes below that level it will be removed from our Watch List. DELETIONS FROM OUR WATCH LISTS: None at this time. At your service, John Hopkins EarningsBeats