EB Watch List Update Report

Dear Members: Market Update A few things have happened today worth mentioning. First, Caterpillar missed its earnings expectations, so far losing over 8%. Next, Nvidia is getting hammered after issuing an earnings warning, so far down over 13%. Next, Apple has fallen back below all key technical levels, just one day ahead of its earnings and it's tough envisioning the market advancing substantially higher if AAPL is left behind. We've also got the VIX up over 15% as it tests its 20 day moving average - currently at 20.40 - from below and a close back above that level could indicate further selling. It's worth noting that all of this is happening just as the 20 day moved back above the 50 day on the NASDAQ which is generally a positive signal. But the same cannot be said of the Dow or S&P. Also worth noting today's weakness ahead of some very key earnings reports this week; Apple, Amazon, Facebook, Microsoft, just to name some tech giants. It should also be noted that the Fed will make its interest rate announcement this Wednesday - no one is expecting a rate increase - but lots of attention will be paid to the statement following the decision. We're also going to get the monthly non-farm payroll report on Friday. So if there was ever a week when the near term direction of the market could be decided, this is it. In looking at the S&P it got as high as 2675 last week which is now resistance. To the downside the bulls will be looking to defend the 50 day, currently at 2611. Just below that is the 20 day at 2605. Really no need to rush into anything here, especially given the big bounce off the late December bottom with not much correction since that time. Companies reporting earnings today (January 28) Before Market Opens: CAT After Market Closes AKS, CR and WHR Companies reporting earnings tomorrow (January 29) Before Market Opens: MMM, AGN, BIIB, CIT, GLW, DHR, DOV, HOG, HRS, HCA, KNX, LLL, LMT, NUE, PFE, PII, PHM, ROK, SAP, AOS, VZ and XRX After Market Closes: AMD, ALGN, AMGN, AAPL, BXP, CHRW, EBAY, IEX, ILMN, JNPR, KLAC, MXIM, PFG, RHI and SYK ADDITIONS TO WATCH LIST We added OLED to our Short Watch List with additional information below. Also, 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. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: OLED - Stock was added to the Watch List this morning at an initial entry price of $102.27 with a second entry on any move higher to $104.50 with a price target to the downside of $92 and a stop of any CLOSE above $105.75. Would like to see it close back below its 200 day moving average, currently at $101.24 which could set the stock up to move lower. 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