EB Watch List Update Report

Dear Members: Market Update The biggest week of the earnings season continues with all of the major indexes higher on the heels of a positive reaction to Apple's earnings as well as McDonald's and Boeing as it nears its all time high. Interestingly AAPL's report was mixed but it's lagged so badly that traders are giving it the benefit of the doubt. Also interesting is that in spite of some decent reactions to the largest market cap stocks the major indexes have been unable to gain any traction with the NASDAQ 100 points below the January 18 high. After the bell tonight we'll hear from Facebook and Microsoft and then tomorrow Amazon. So by tomorrow traders will have heard from the biggest of the big, certainly plenty enough to determine how satisfied they are with the overall earnings picture. Later today we'll hear from the Fed with all ears on the statement accompanying the interest rate announcement. With the market so far unable to advance past the recent highs one has to wonder if the strong bounce off the recent lows had factored in stronger than expected numbers and if not what might be holding the market back. None of the major indexes are overbought here so there's plenty of room to run higher if traders decide to put more capital to work on the long side. Maybe a strong showing by FB, MSFT and AMZN could be the impetus to take the market higher. On the flip side any disappointment could put a lid on the upside. The magic number to the upside on the S&P remains at 2675, the most recent high, with key support down near 2610. Perhaps we'll have an even better sense of where the market is headed by week's end. Companies reporting earnings today (January 30) Before Market Opens: BABA, ANTM, T, ADP, BA, CHKP, EVR, GD, GNTX, HES, IR, MCD, NDAQ, NVS, RCL, SLAB, SIRI, TMO and VLVLY After Market Closes AMP, CREE, DLB, FB, FICO, FLEX, MSFT, MDLZ, PYPL, QCOM, TSLA, X, V and WYNN Companies reporting earnings tomorrow (January 31) Before Market Opens: FLWS, MO, BHGE, BLL, BAX, BX, APRN, BX, CELG, CHTR, COP, DWDP, ETN, GE, HSY, IP, MMC, MA, NOK, NOC, PH, RTN, RDS.A, SHW, S, TSCO, UPS, VLO, After Market Closes: AMZN, CY, MCK, SKYW, SYMC and YUMC ADDITIONS TO WATCH LIST Will keep you posted on any further additions to the Watch List. BRIEF COMMENTS ON WATCH LIST STOCKS SHORTS: OLED - Stock once again moved back below its 200 day moving average earlier in the session before bouncing. Will the third time be a charm? A close back below that level, currently at $101.26 could set the stock up to move lower. BRKS - Stock had moved lower before bouncing and as it tests its 200 day moving average from below. As a reminder we have a second entry level on any move higher to $31. 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