EB Watch List Update Report

Dear Members: MARKET UPDATE The VIX says it all today, higher by almost 30% and well off its high of the session. In a nutshell, traders have become very worried very fast.This is seen with all of the major indexes substantially lower. So far the NASDAQ and S&P have held their respective 50 day moving averages. However, even testing those levels has spooked traders. Right now we need to be watching two key levels; 2448 on the S&P and 6272 on the NASDAQ, both representing the respective 50 day moving averages. If those go then we could see selling pick up. In the case of the S&P, the next level of support is near 2435 then 2400 comes into play. In the case of the NASDAQ, should it lose its 50 day then 6236 is next. Traders might not want to take any chances for the market to move to those levels. So we need to take today's selling seriously. Of course the bulls have managed to step up to the plate almost every time they needed to for many months now. However, we could be at a point where we see selling on any bounces rather than any dips. All of this calling for more caution than usual until we see what develops. KEY EARNINGS REPORTS ADDITIONS TO WATCH LISTS: None at this time. WIll let you know if spot any high reward to risk trading candidates that might hold up well in this negative environment. Please note we will be adding almost 90 stocks to the Candidate Tracker in the next day or two KEY EARNINGS REPORTS Companies reporting earnings today (August 10) include: Before Market Opens: APRN, KSS, M and Y After Market Closes: NWSA, JWN, NVDA and SNAP Companies reporting earnings tomorrow (August 11) include: Before Market Opens: JCP and TU After Market Closes: None BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List GE - Stock is struggling along with the rest of the market. Please note the stop is any INTRA DAY move below $25.25. MSFT - Stock retested its 50 day moving average and so far has neld. Please note the stop is any INTRA DAY move below $71.30. ECA - Stock is holding up well relative to the overall market. Please note the stop is any CLOSE below its 20 day moving average, currently at 9.72. Mid Cap Watch List None at this time Small Cap Watch List DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats