EB Watch List Update Report

Dear Members: MARKET NOTE: Fed day is finally upon us and all I can say to that is, it's about time! In just under three hours the Fed will make its rate announcement and the pundits can then immediately move from forecasting non-stop when the Fed will raise next. But we don't need to bother ourselves with all of that talk; we can let the charts do the work for us, and right now the S&P remains below all key technical levels, but not by much. And in fact the S&P tested the next key level of resistance this morning right near 2060 and has since pulled back some partly because oil is right back to selling off today on a massive, unexpected inventory build, taking the wind out of the sails of the market. But that won't dominate the trading later today. That will largely be determined by the market's reaction to the Fed announcement. On the plus side is seasonality; this really is where the market should shine. So if the Fed sends the right signals we could see a continuation of the most recent rally. On the other hand, if the market sees the Fed statement as being hawkish the rally could stall. In either case, the S&P does need to close above 2060 as a first start. Short of that we could see a resumption in selling. We should have at least some indication of where the market is headed by the time the market closes today. KEY EARNINGS REPORTS Companies reporting earnings today (December 16) include: FDX, MLHR, JBL, JOY, ORCL and WOR Companies reporting earnings tomorrow (December 17) include: ACN, GIS and RHT ADDITIONS TO WATCH LISTS: We added five stocks to the Watch List yesterday and all important information has been added to the site. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - This stock got within a few cents of our target of $19 earlier in the session. FB - Stock is up slightly and has moved back above all key technical levels. A close above $106.49 would be bullish. JNPR - Stock challenged its 20 day moving average earlier in the session and a close above $29.53 would be bullish. Mid Cap Watch List COLM - Stock is consolidating and is technically oversold. A close back above $46.08 would be bullish. EEFT - Stock continues to consolidate and needs to clear $75.37 to regain some technical advantage. MPWR - Stock is lower today and needs to hold $62.44. A close above $64.83 would be very bullish. SBGI - This stock is higher by almost 3% and a close above $33.26 would be bullish. WYN - This stock closed below our stop of $73 yesterday so is being removed from the Watch List. Small Cap Watch List AMKR - Stock is up over 1.5% today and a close above $6.41 would be bullish. INVN - This stock closed below our stop of $10.50 yesterday so is being removed from the Watch List. DELETIONS FROM OUR WATCH LISTS: We are removing WYN and INVN from out Watch List. 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