EB Watch List Update Report

Dear Members: First, please note that Tom Bowley's historical performance article has now been posted on his blog on the site and is available exclusively to EarningsBeats.com members. Must reading! MARKET NOTE: So what's going on in the market on this last trading day of the year? So far we've got lower prices all the way around though it's happening with very thin trading. Nonetheless we're back to the Dow and S&P being below all of their respective moving averages, not exactly a confidence builder for those who might be considering going long. If there's any consolation it's that stocks are off the session low, at least step one to see if the worst of the selling is over for the day. But if the market were to close right now, the S&P would be in negative territory for the year, but not by much. So it's all come down to the market being flat for the year; many days of trading for no gains, no doubt very frustrating to many traders. But traders have pretty much put 2015 in the rear view mirror with a new trading year to start next Monday. Perhaps given the frustration of 2015 traders prefer to start the year on the sidelines, not knowing what lies ahead. And this is a good segue into Tom Bowley's historical performance article which points out positive performance trends at the very beginning of January in the S&P over many years. Here is a link: http://www.earningsbeats.com/members/Seasonal-Trends-for-January.cfm Naturally the bulls would like to see some attempt to regain at least some technical advantage by day's end so at least a close back above 2055 and a close above 2067 would be even better. To the downside there should be some support in the 2040 range on any further selling. KEY EARNINGS REPORTS Companies reporting earnings today (December 31) include: There are no key earnings reports due out today Companies reporting earnings Monday (January 4) include: There are no key earnings reports due out on Monday ADDITIONS TO WATCH LISTS: Let's hold off on any new additions to the Watch List until we move into the New Year and see what we are dealing with. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List BSX - Stock is flat as a pancake with $19 remaining as our target. FB - Stock is down slightly and a close above $107.77 would be bullish. Mid Cap Watch List MPWR - Stock is down roughly 1% and a close above $64.41 would be technically positive. SBGI - Stock is up slightly after pulling back earlier in the session. Needs to close back above $32.69 to regain technical strength. Small Cap Watch List AMKR - Stock is down over 1.5% today and really needs to close back above $6.18 or we could see additional selling. CALD - Stock is down just over 1% for the session and needs to close back above $19.34 to regain some technical advantage. 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. I want to take this opportunity to wish everyone a very happy and prosperous New Year and I will be back with my EB Watch List Update Report on Monday morning. At your service, John Hopkins, EarningsBeats