EB Watch List Update Report

Dear Members: MARKET NOTE: The market opened with great promise this morning with stocks losing some steam but at the moment all of the major indexes are higher. The theme of late of selling on any rallies lives with traders looking for signs that a change is in sight. The good news for the bulls is the S&P held key support on Friday with at least some follow through today, at least for the moment. But it continues to be like pulling teeth; who are the brave souls who take the plunge to go long here, especially with oil now in the 20's and every analyst in the world saying we're in a bear market? Even the cult stocks of 2015, like AAPL, FB, GOOD, AMZN are struggling to get a bid that holds. And we're seeing companies coming out with earnings that are beating expectations, only to move lower rather than being bought up on good news. Naturally everyone is looking for the day when the selling of late will stop and the catalyst that will turn the tide. Certainly the more companies that beat earnings expectations should help. But until traders start buying in unison rather than sitting on the sidelines it is going to be tough for any rally to hold. At a minimum we're going to need to see the S&P hold the 1850-1860 level. The S&P touched 1857 on Friday before bouncing. To the upside, clearing 1900 at a minimum could give the bulls something to work with. 1916 was Friday's high so that is now a target for the bulls to aim for. In the meantime we'll go with the flow here and lay low as we wait for a signal that says the worst of the selling is over. KEY EARNINGS REPORTS Companies reporting earnings today (January 20) include: AMD, BAC, SCHW, CMA, CREE, DAL, EBAY, IBM, MTB, MS, NFLX, SNV, AMTD, ULVR.l and UNH Companies reporting earnings tomorrow (January 21) include: FFIV, FCS, GS, KMI, NTRS, RJF, SLM, AMTD and XLNX ADDITIONS TO WATCH LISTS: First, please note that we have removed quite a few stocks from the Candidate Tracker and added some new ones. Also we are expanding our search criteria to look for short trading candidates, given the current market environment. As more companies report earnings over the next few weeks the Candidate Tracker will grow and we will provide long or short trading candidate as appropriate. In the meantime, we hold tight here. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Only one stock remain on the Watch List. Large Cap Watch List BSX - Stock tried to clear all key technical levels early in the session before pulling back some. A close back above $18.23 would be bullish. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List There are no Small Cap stocks on the Watch List at this time. 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