EB Watch List Update Report

Dear Members: MARKET NOTE: So, what stands out today? First, the monthly jobs report came out a bit shy of expectations but the past few months were revised upward and the wage component of the report was stronger than expected. Next, the S&P got to within almost the penny of its 200 day moving average just above 2083 and bounced. That makes sense since it's a key support level and the S&P is technically oversold. Next, the VIX is down slightly after hitting its highest level since June 27, just before the market recovered from its last bottom. Let's not get too bullish here; it's still early in the day and the VIX remains at elevated levels. But when the market was lower this morning it represented the ninth straight day of being down, something that has not happened in 35 years. So this must be considered extreme. What's next? The election. That's about all that matters for the next few days. The Fed rate announcement and monthly jobs report are already history. So traders will be on pins and needles right through election day. We know where support is on the S&P; clearly at 2083. The S&P has not been below its 200 day since that late July bottom. Below that is 2070 and then 2040. But it would not surprise me if the market consolidates into the election with the odds favoring a move higher, only because so many traders are betting against the market right at key support. To the upside the bulls would at least like to get back above 2100 on the S&P, a psychological level at this point if nothing else. Bottom line: it APPEARS that the worst of the selling is over. However, if 2083 goes then we're likely going lower. KEY EARNINGS REPORTS Companies reporting earnings today (November 4) include: AES, AEE, DUK, HUM, ITT, NRG, PCG, T.TO and USM Companies reporting earnings Monday (November 7) include: AC.TO, ALGN, AMC, CTSH, FICO, HTZ, HHC, MAR, MGM, PCLN and SYY ADDITIONS TO WATCH LISTS: We added HLX to the Watch List today; PPYL and MAN. More on both 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 PPYL - This stock pulled back early in the session and since then has bounced back to challengint its 20 day moving average. Would like to see it close above that level, now at 41.22, and it would then be back above all key technical levels which would be bullish. Mid Cap Watch List MAN - Stock is up over 1% today and a close above $78.40 would be bullish. Small Cap Watch List HLX - We added this stock this morning at 8.32 as it tested key technical support. So far it has held. The next key level of resistance is the 20 day, now near $9. None at this time DELETIONS FROM OUR WATCH LISTS: None I want to wish everyone a restful weekend and will be back with my EB Watch List Update Report Monday morning. At your service, John Hopkins EarningsBeats