EB Watch List Update Report

Dear Members: Market Update The bulls are flexing their muscles today on the heels of a disappointing earnings report by Intel after the bell last night. The move higher has some traders scratching their heads; INTC is an important company but its earnings miss and lowered forecast is being ignored. The move higher today includes Apple up by 2.5% as it tries to clear and hold above its 20 day moving average, something it did briefly last Friday. AAPL is important here as it has lagged badly with the bulls hoping it can show some strength to keep the current rally going. So far both the NASDAQ and S&P remain below last Friday's highs of 7185 and 2675, respectively. Those are important levels with the bulls knowing if they can clear them then there could be additional upside. So far enough companies have beaten earnings expectations to keep the market from moving lower with a number of large cap tech stocks sest to report next week including Amazon, Apple, Facebook and Microsoft - heavy hitters indeed - with the bulls hoping their combined earnings will power the market higher. For now we'll want to watch and see if the S&P can clear that 2675 level. If it does then 2700 would be next. However, should it stall there we could see some profit taking. Right now traders are focusing more on those companies that are beating expectations than those that miss with next week being a big test with so many important companies about to report and the bulls should be respected. Companies reporting earnings today (January 25) Before Market Opens: CL, DHI and ERIC After Market Closes None Companies reporting earnings Monday (January 28) Before Market Opens: CAT After Market Closes: AKS, CR and WHR ADDITIONS TO WATCH LIST As earnings season builds we will be updating the Candidate Tracker and will keep you posted. Will also keep you posted on any further additions to the Watch List. Would like to wait for a much better set-up than exists right now. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: ERF - Stock moved back through our revised stop of $8.78 so is being removed from the Watch List. 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