EB Watch List Update Report

Dear Members: Market Update: The market is off to a strong start as we begin a new trading day, week, month and year! Earlier in the session the VIX had moved above all key moving averages. So it looked like traders were going to consider dumping positions early on. Instead, the VIX is now back in the 9's as confidence began to build. So far the S&P remains below its all time high of 2694, but not by much. So the big question to me is this; will we see strength as the day progresses, followed by additional buying tomorrow that would get push the S&P to a new record high? Or, will this be a short-lived rally with some profit taking now that traders no longer have to worry about taking gains for 2017? We're going to have a better idea once we get to tomorrow. But at the moment I'm not 100% convinced that the market is getting ready to take off here. I could be wrong but just like we did at the end of the year we should be a bit careful here just in case we see some type of reversal. Not predicting it but I would rather go slow for a day or two now that we are in a new year and revisit tomorrow to see if there might be more room for the market to rise. Companies Reporting earnings today (January 2) Before Market Opens None After Market Closes: None Companies reporting earnings tomorrow (January 3) Before Market Opens: None After Market Closes: RAD ADDITIONS TO WATCH LIST Going to keep an eye on the overall market action as the new year begins and be very selective about new alerts. I think being patient here could pay off for us. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None Mid Cap Watch List None Small Cap Watch List None DELETIONS FROM THE WATCH LIST None At your service, John Hopkins EarningsBeats