EB Watch List Update Report

Market Update: Here we are again with all of the major indexes higher with traders wondering if early gains can hold. It's a legitimate question given current volatility with the fear meter showing lots of worry. Yesterday saw the S&P test its February low of 2532, in fact dipping slightly below before bouncing. So the bulls will say the retest of that low was what the market needed to turn things around. It's possible they could be right as we continue into a very bullish time of the year. But traders now have 3-4 fingers on the sell button with very little tolerance for losses. One could argue that the selling has been overdone but has it? What matters most is what actually happens, not what traders might think. All of the major indexes are so technically broken that it's hard to picture them getting healthy again. For example, for the bulls to gain full technical advantage we would need to see the S&P close back above 2715 which is 6% higher. We do have the Fed making their interest rate announcement tomorrow so that could be a defining moment; do we see a rally that sticks or selling that makes stocks more attractive? We'll see the first reaction tomorrow at 2 PM eastern when the Fed takes center stage. Companies reporting earnings today (December 18) Before Market Opens: DRI After Market Closes FDX, JBL and MU Companies reporting earnings tomorrow (December 19) Before Market Opens: GIS, PAYX and WGO After Market Closes: None ADDITIONS TO WATCH We will keep you posted on any additions to the Watch List BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: None LONGS: Large Cap Watch List None Mid Cap Watch List TTD - Stock moved below our Intra Day stop of below $126 so was removed from the Watch List Small Cap Watch List CRNT - Stock hit our second entry of $3.55 but given market volatility we removed it from the Watch List when the stock was at $3.60. Might revisit down the road Deletions from Watch List TTD and CRNT At your service, John Hopkins EarningsBeats