EB Watch List Update Report

Dear Members: Market Update: 2019 is underway and already perplexing to the bulls and bears alike with all of the major indexes well off session lows. Right out of the gate the bears were feeling good with the Dow down 400 points but the bulls had their own ideas with nice buying on the initial dip. This kind of action acts as a reminder of how tricky it can be to be either long or short with the VIX still in the mid-20's; much lower than the recent high but still high enough to create enough volatility to spook traders. One argument the bears will make; the market is no longer oversold, and it's true. But the bulls will argue that the recent selling was overdone and that there's still a lot of ground to make up. Both arguments have merit but one thing that is currently undisputed is all of the major indexes remain below all key technical levels; the bears still need to be respected. If the bulls hope to make further progress they'll need to clear last week's high on the S&P of 2520. There's still a lot of room for the market to move lower as well; the S&P was got as low as 2346 last week. Bottom line right now is this is a tough market to trade, either on the long or short side, specifically because it's hard for gains on either side of the equation to hold; it's like spinning wheels. We would be best to see what develops as the day progresses and revisit if a clearer picture starts to emerge. Companies reporting earnings today (January 2) Before Market Opens: None After Market Closes None Companies reporting earnings tomorrow (January 3) Before Market Opens: UNF 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 None Small Cap Watch List None Deletions from Watch List None At your service, John Hopkins EarningsBeats