EB Watch List Update Report

Dear Members: MARKET NOTE: We've got a holiday shortened week in progress and so far all of the major indexes are higher. The move higher today includes the NASDAQ hitting a new record level and the Dow remaining very stretched. In addition the S&P remains below its most recent all time high of 2277; like pulling teeth lately. Worth noting is the VIX which is up over 5% in spite of the move higher in the market. In fact it almost touched its 20 day moving average from underneath and a close above that level, now at 12.38, would give the bears the technical advantage for the first time in a few weeks. This indicates to me some nervousness beneath the surface; the bulls managing to push the market higher while traders are somewhat skeptical. I know I remain skeptical. There's basically been no meaningful correction in the market for close to two months now. And in looking at the chart on the Dow you have to go back MANY years to see it anywhere near as technically overbought as it is now, quest for 20k notwithstanding. The notion of holding off selling stocks while deferring any gains into 2017 has increased in popularity. This in and of itself spooks me, especially as January nears and with the market stretched. So I remain in the camp of just laying low for the rest of the week; just too hard to try to pick and choose what might benefit in the next few trading days as the year comes to a close. In fact, I've decided to provide just one more Market Update this week on Thursday; not much else to say. You can use 2277 as key resistance on the S&P and 2243 (current 20 day moving average) as support. If something important develops between now and Thursday I will be in touch. KEY EARNINGS REPORTS Companies reporting earnings today (December 27) include: There are no key earnings reports due out today Companies reporting earnings tomorrow (December 28) include: There are no key earnings reports due out tomorrow ADDITIONS TO WATCH LISTS: None at this time. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List None at this time DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats