EB Watch List Update Report

Dear Members: MARKET NOTE: The market is on the plus side of the ledger this morning with all of the major indexes higher. This comes after the NASDAQ tested 5000 on the nose yesterday and so far has held. The S&P has climbed back above its 50 day moving average but remains below both the 20 and 50 days. In this market environment it might be accurate to say one out of three ain't bad. Once again oil remains in the headlines, touching a 7 year low near $36.50 for WTI crude. This starts getting close to the mid 30's level analysts have been talking about for some time. Yet no one is screaming that oil has bottomed which remains problematic for the overall market in the near term. Traders continue to look forward to next week when the Fed makes its interest rate announcement wondering if yesterday's selling represented a near term bottom. It's quite possible but the reality is no one really knows how the market might respond to a Fed rate increase. But we do know that historically December is positive for equities. In fact in looking at Tom Bowley's historical analysis you will see that December ranks number one in returns for the year for both the S&P and Russell 2000 and number two for the NASDAQ. It comes with a caveat that it can be rocky for stocks up to mid month, right when the Fed will make its decision! So we could remain choppy for a few more trading sessions but then the mood could favor the bulls. In the meantime, it would be a positive step for the S&P to close above 2055 for the bulls to be able to say they've at least held one key technical level. KEY EARNINGS REPORTS Companies reporting earnings today (December 10) include: ADBE, CIEN and RH Companies reporting earnings tomorrow (December 11) include: There are no key earnings reports due out on Friday ADDITIONS TO WATCH LISTS: As a reminder we added almost 50 new stocks to the Candidate Tracker yesterday which you can now find on our site. We are going to continue to hold off adding any new stocks at the moment and will focus on those that are currently on the Watch List. Just too unpredictable at the moment. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - Stock continues to consolidate and needs to clear $18.90 which would be very bullish. JNPR - Stock is technically challenged here and needs to reverse soon. We have a stop at a close below $28.40 which it hit earlier in the session before bouncing. Mid Cap Watch List EEFT - Stock is up over 1.5% today and it would be a positive step to clear $76.31. WYN - This stock is fairly flat and remains below all key technical levels. A close back above $72.30 would be bullish. Small Cap Watch List IMPV - This stock is trading right between its 20 and 50 day moving averages and needs to clear $72.09. INVN - This stock held its 50 day on recent selling and is trying to move back above its 20 day, now at $11.60. A close above that level would be bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats