EB Watch List Update Report

Dear Members: MARKET NOTE: How worried are traders about today's selling? Sort of worried. The VIX is up by 6%, well off session highs, and so far remains below all key technical levels. So this could be the beginning of increased volatility after the VIX had moved close to historically low levels. Worth noting is the Dow which is testing its 20 day moving average for the first time in over two months. Should that level (now near 19,800) go then we're likely to see additional selling. At the same time, the S&P is almost exactly on its 20 day moving average as traders try to decide if this is a good place to buy or a good place to be more patient. The NASDAQ is lower as well but still remains above all key technical levels. So all of the major indexes are under fire with the Dow and the S&P currently more vulnerable. Traders are known for having good memories so they might be thinking about last year when the market was very weak for all of January and into mid February. Of course there are different circumstances this year, particularly a new Administration about to take over, but that also bring with it much uncertainty, witness the resurgence in gold and lower government bond yields; traders moving into safety. Today could end up being the first real test of the year; is Dow 20,000 a fading hope, or will traders do what they've done for quite some time now; take advantage of lower prices? With earnings season about to kick into high gear they just might be willing to hold off selling much more until they get a better look at how the overall quarter looked with some major banks set to report their numbers tomorrow. In the meantime let's see if the S&P holds that 2257 level and if the Dow can hold its 20 day moving average, both which could be considered bullish. KEY EARNINGS REPORTS Companies reporting earnings today (January 12) include: DAL Companies reporting earnings tomorrow (January 13) include: BAC, BLK, JPM, PNC and WFC ADDITIONS TO WATCH LISTS: We will be updating the Candidate Tracker later today, removing some of the older stocks and adding some new ones. Will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock has made its way back to its 20 day moving average. Right now the stop is any Intra Day move below $99.35. Will let members know if that changes. Mid Cap Watch List NUAN - Stock is down slightly but so far holding above all key technical levels. Small Cap Watch List TRUE - Stock is fairly flat but so far holding above all key technical levels. Would still like to see it close back above the most recent high close of $13.12. We will maintain our stop of any Intra Day move below $12.40. DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats