EB Watch List Update Report

Dear Members: MARKET NOTE: The Fed has come and gone and now traders are asking, "what's next?" That's very typical of the market; the Fed announcement to raise rates is now history and traders are turning their collective attention to what lies ahead. Yesterday the response to the Fed's action was positive and now traders are taking some profits as they continue to analyze what the Fed's decision will mean for stocks. So we've got a situation where the Fed's decision is fresh enough to command attention just as we enter the most bullish period of the year for stocks that extends into year end, so a true tug of war. At the same time oil has resumed its move lower after a day or two of reprieve and gold is getting hammered as the US dollar strengthens. Now the question becomes, will traders see today's selling as an opportunity to buy on the dip? Or will the selling intensify? The S&P has moved back below all key technical levels; the 20, 50 and 200 day moving averages which are all clustered within two points of each other. So job number one for the bulls is getting the S&P back above 2062 which will be key if they want a legitimate shot at getting back to the 2100 level. KEY EARNINGS REPORTS Companies reporting earnings today (December 17) include: ACN, GIS and RHT Companies reporting earnings tomorrow (December 18) include: BB.TO, KMX, CCL, DRI and LEN ADDITIONS TO WATCH LISTS: We recently added five stocks to the Watch List so let's hold off on adding any additional ones until we see how the day develops. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - This stock is down slightly with our target remaining at $19. FB - Stock is flat after making a nice move higher yesterday. It looks fine technically and especially if it holds $105 on any selling. JNPR - Stock is trying to clear its 20 day moving average at $29.52. A close above that level would be bullish. Mid Cap Watch List COLM - Stock is consolidating and remains technically oversold. A close back above $46.64 would be bullish. EEFT - Stock is trying to clear its 20 day moving average, now at $75.32, and a close above that level would be bullish. MPWR - Stock made an attempt to clear its 20 day earlier in the session and a close above $64.80 would be bullish. SBGI - This stock has given up its gains from yesterday and needs to hold $32.10 or could go lower. Small Cap Watch List AMKR - Stock is fairly flat for the day and a close above $6.54 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