EB Watch List Update Report

Dear Members: MARKET NOTE: The S&P has spent the past six weeks trying to clear its 20 and 50 day moving averages without success. In fact its been an exercise in futility which has made it near impossible for any advance higher. In the meantime the NASDAQ has gone from being the far superior index to behaving more like the Dow and S&P. So a very small consolation here is all of the major indexes are trading in lock step, just not the right way for the bulls. It's a bit torturous for traders since both the NASDAQ and S&P are hanging close to those key technical levels. In fact, the S&P remains less thatn 3% below its all time high so a few very strong days could quickly put that level back in play. But there's no denying that the market has been technically challenged since early September; the bulls have constantly been working from behind the eight ball. The action in the VIX the past few sessions shows traders are more nervous today than they were even earlier in the week. The rise in yields in government bonds does show that traders are almost certain the Fed will raise rates come December. In fact the yield on the ten year treasury note, now at 1.85%, is at the highest level seen since May. And, let's not forget we've got an election coming up in less than two weeks. In addition the response to earnings reports remains mixed; it certainly has not been strong enough to power the market higher. All of this adding up to needing to tread lightly here with 2114 remaining as key support on the S&P and 2157, the current 50 day, remaining as key resistance. And where is the S&P now? Smack in the middle, presenting a challenging trading environment for both the bulls and the bears. KEY EARNINGS REPORTS Companies reporting earnings today (October 27) include: AET, AFL, GOOGL, MO, AMZN, AMGN, AMCC, AVT, BIDU, BAS.DE, BX, BWA, BMY, BC, CELG, CHH, CHDN, CRUS, CME, CL, COLM, COP, DBK.DE, DPS, EXPE, F, GCI, HBI, HLS, IP, IVZ, LLL, LAZ, LNKD, MPC, MCK, NOKIA.HE, PF, POT.TO, RDN, RTN, SIRI, SCTY, SWK, SYK, TROW, TWTR, UPS, UTHR, VRSN and YRI.TO Companies reporting earnings tomorrow(October 28) include: ALU.PA, NSU.DE, AN, CPN, CBOE, COH, CVX, XOM, GT, HSY, HUN, LM, MA, PSX, RCL, WY, and XRX ADDITIONS TO WATCH LISTS: Flat out too tricky to issue an alert at this point until we get further clarification on market direction. Remember that cash is a position as well. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List CTXS - We are removing CTXS from our Watch List as it closed below our stop loss of $84.70. Mid Cap Watch List None at thi time Small Cap Watch List None at this time DELETIONS FROM OUR WATCH LISTS: We are removing CTXS from our Watch List as it closed below its stop level At your service, John Hopkins EarningsBeats