EB Watch List Update Report

Dear Members: MARKET NOTE: Traders are in a good mood this morning after taking advantage of the recent selling to go long with all of the major indexes higher. A few things are catching my attention this morning. First, the NASDAQ has hit a new all time high. In addition, the S&P has hit an all time high as well. Next, the VIX is down over 5% as it touched 11 this morning as trader confidence has grown. In addition, government bond yields are higher today as well with confidence the Fed will continue to raise rates after today's monthly non-farm payroll report showed the jobs market continues to be strong. The Dow remains within striking range of that so far elusive 20,000 level. The resumption of the move higher is coming just ahead of the kick off of earnings season with Alcoa set to report its numbers after the bell on Monday. And when it comes to the market there really is nothing more important than the bottom line. So over the next month there will be thousands of companies reporting earnings as well as the inauguration of a new president and at this moment the market is seeing it as mostly positive. As usual we'll want to see how the market closes. If the NASDAQ and S&P can close at their respective all time highs that would be bullish going into the weekend. Even better if the Dow clears 20,000. It's a big number so it could stall there. But traders are opening up their pocket books on the expectations that the market is about to go higher. KEY EARNINGS REPORTS Companies reporting earnings today (January 6) include: There are no key earnings reports due out today Companies reporting earnings Monday (January 9) include: AA, AYI and CON.DE ADDITIONS TO WATCH LISTS: We added NUAN yesterday and TRUE today to our Watch List with more details below BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock is higher today after hitting our second entry level of $102 yesterday as it held at the 20 day moving average. Would like to see it close back over the most recent close of $104.39 which would possibly set it up for a move higher. Mid Cap Watch List NUAN - Stock was added yesterday at initial entry price of $15.19 with a price target of $16.48. So far today it is up by over 4% as it tries to clear its 200 day moving average at $15.79. A close above that level would be bullish. Small Cap Watch List TRUE - We added this stock this morning at an initial entry price of $12.90 with a second entry on any pullback to $12.60 with a price target of $14 and a stop loss of any INTRA DAY move below $12.40. DELETIONS FROM OUR WATCH LISTS: None at this time I want to wish everyone a restful weekend and I will be back with my EB Watch List Update Report on Monday. At your service, John Hopkins EarningsBeats