EB Watch List Update Report

Dear Members: Market Update: The market continues to hold quite well even with the Fed announcing a rate increase yesterday. In fact the Dow hit an all time high earlier in the session as traders continue their love fest with blue chip stocks. Even the NASDAQ has come back to life as it inches its way closer to its all time high and the VIX confirms that traders are quite comfortable being long stocks. Both the Dow and the S&P were overbought coming into today and that still remains the case. But that seems to matter little to traders at the moment, especially as the market heads into a very bullish period of the year. Even though the market remains strong there really hasn't been that much progress made the past few weeks. In fact in the case of the NASDAQ it's below it's all time high achieved about 3 weeks ago. It's possible that some buying fatigue is setting in. The S&P is up over 4% in just a month and two of the 3 major indexes are stretched. Still it's hard not to be mostly positive here. Maybe we'll just see some consolidation in the near term. But I certainly wouldn't bet against the market here. Companies Reporting earnings today (December 14) Before Market Opens None After Market Closes: ADBE, COST, JBL and ORCL Companies reporting earnings tomorrow (December 15) Before Market Opens: LTRE After Market Closes: None ADDITIONS TO WATCH LIST Will keep you posted if have any new trade alerts BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List DVN - Stock remains in consolidation mode above its 20 day moving average. A close above $38.84 would be very bullish. PANW - Stock is higher and trying to move back above its 50 day moving average, currently at $145.88, and a close above that level would be a positive development. Mid Cap Watch List None Small Cap Watch List IMAX - Stock is up slightly. Would like to see it at least close back above its 200 day moving average, currently at $25.04. KLIC - Stock is up over 1.7% and a close above its 20 day moving average, currently at $24.63, would be bullish. SCVL - Stock has pulled back almost 2% after being higher earlier in the session. It does remain above all key technical levels and needs to close above its most recent high of $25.77 which would be bullish. EXTR - Stock is down slightly as it consolidates right near its 20 day moving average, currently at $12.70. A close above that level would be very bullish. ESIO - Stock is up slightly and a close back above the 50 day moving average, currently at $20.06, would be bullish. DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats